75,924 Shares in Pattern Energy Group Inc (PEGI) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new stake in Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) during the 1st quarter, HoldingsChannel reports. The fund purchased 75,924 shares of the utilities provider’s stock, valued at approximately $1,670,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Commonwealth Equity Services LLC lifted its holdings in shares of Pattern Energy Group by 6.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 17,278 shares of the utilities provider’s stock valued at $321,000 after purchasing an additional 1,002 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Pattern Energy Group by 14.6% in the fourth quarter. IFP Advisors Inc now owns 7,916 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 1,011 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Pattern Energy Group in the first quarter valued at about $26,000. Manning & Napier Group LLC lifted its holdings in shares of Pattern Energy Group by 3.5% in the first quarter. Manning & Napier Group LLC now owns 36,330 shares of the utilities provider’s stock valued at $798,000 after purchasing an additional 1,215 shares in the last quarter. Finally, ETF Managers Group LLC lifted its holdings in shares of Pattern Energy Group by 20.4% in the fourth quarter. ETF Managers Group LLC now owns 7,843 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 1,331 shares in the last quarter. 84.17% of the stock is currently owned by institutional investors.

In other news, SVP Kevin E. Devlin sold 2,943 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $21.13, for a total value of $62,185.59. Following the completion of the sale, the senior vice president now owns 22,080 shares of the company’s stock, valued at $466,550.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher M. Shugart sold 6,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $22.00, for a total transaction of $132,000.00. Following the completion of the sale, the senior vice president now directly owns 64,584 shares of the company’s stock, valued at approximately $1,420,848. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,143 shares of company stock worth $218,498. 1.70% of the stock is currently owned by insiders.

Several analysts have issued reports on PEGI shares. BidaskClub raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Raymond James upped their price target on shares of Pattern Energy Group from $22.50 to $23.50 and gave the company an “outperform” rating in a report on Monday, March 4th. Macquarie downgraded shares of Pattern Energy Group from a “neutral” rating to an “underperform” rating in a report on Monday, February 4th. BMO Capital Markets downgraded shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a report on Friday, February 1st. Finally, ValuEngine raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $22.00.

NASDAQ:PEGI opened at $21.77 on Wednesday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.94. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.40 and a beta of 1.05. Pattern Energy Group Inc has a fifty-two week low of $16.81 and a fifty-two week high of $23.51.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last posted its quarterly earnings results on Friday, May 10th. The utilities provider reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.43). The company had revenue of $135.00 million for the quarter, compared to analysts’ expectations of $143.38 million. Pattern Energy Group had a negative return on equity of 1.04% and a negative net margin of 4.52%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 EPS. On average, equities analysts predict that Pattern Energy Group Inc will post 0.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.422 per share. This represents a $1.69 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date of this dividend is Thursday, June 27th. Pattern Energy Group’s dividend payout ratio is currently 116.55%.

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Pattern Energy Group Company Profile

Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.

Further Reading: Blockchain

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Institutional Ownership by Quarter for Pattern Energy Group (NASDAQ:PEGI)

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