Pattern Energy Group (PEGI) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) from a strong sell rating to a sell rating in a report issued on Thursday.

Several other research firms have also weighed in on PEGI. BidaskClub lowered Pattern Energy Group from a buy rating to a hold rating in a report on Tuesday, August 28th. Wells Fargo & Co restated a buy rating and issued a $22.00 target price (up from $21.00) on shares of Pattern Energy Group in a report on Monday, September 17th. TheStreet upgraded Pattern Energy Group from a c+ rating to a b- rating in a report on Thursday, August 23rd. Zacks Investment Research lowered Pattern Energy Group from a strong-buy rating to a hold rating in a report on Friday, October 19th. Finally, National Bank Financial reduced their target price on Pattern Energy Group from $25.00 to $24.00 and set an outperform rating for the company in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $22.21.

Shares of NASDAQ PEGI traded up $0.28 during trading hours on Thursday, hitting $18.59. The stock had a trading volume of 2,182,277 shares, compared to its average volume of 1,011,443. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 97.84, a PEG ratio of 0.40 and a beta of 1.07. Pattern Energy Group has a 52 week low of $16.58 and a 52 week high of $23.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.91 and a current ratio of 0.91.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last posted its earnings results on Thursday, August 9th. The utilities provider reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.26. Pattern Energy Group had a return on equity of 6.91% and a net margin of 28.80%. The firm had revenue of $136.00 million during the quarter, compared to analyst estimates of $141.20 million. During the same period in the previous year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, analysts predict that Pattern Energy Group will post 1.56 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were issued a dividend of $0.422 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 9.08%. Pattern Energy Group’s dividend payout ratio (DPR) is presently 889.47%.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Pattern Energy Group by 7.5% during the second quarter. BlackRock Inc. now owns 6,600,386 shares of the utilities provider’s stock worth $123,757,000 after buying an additional 463,092 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Pattern Energy Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,912,257 shares of the utilities provider’s stock worth $35,854,000 after buying an additional 23,235 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Pattern Energy Group by 116.0% during the second quarter. Chicago Partners Investment Group LLC now owns 5,677 shares of the utilities provider’s stock worth $106,000 after buying an additional 3,049 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Pattern Energy Group by 5.5% during the second quarter. Rhumbline Advisers now owns 80,277 shares of the utilities provider’s stock worth $1,505,000 after buying an additional 4,165 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Pattern Energy Group during the second quarter worth approximately $516,000. Institutional investors own 90.10% of the company’s stock.

About Pattern Energy Group

Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.

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