Pattern Energy Group (PEGI) Shares Recommendation Lifted by ValuEngine

ValuEngine boosted Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) from a sell recommendation to a hold recommendation in a study report released on early Tue, Aug 1st.

Pattern Energy Group (PEGI) transacted up 1.19% throughout intraday market trading on early Tue, reaching $23.86. 579,794 stocks of the firms shares were exchanged. Pattern Energy Group has a 1 year low of $18.68 and a 1 year high of $25.42. the company has 50 Day SMA price of $24.46 and a two hundred day SMA of $22.01. Valuation of the business is $2.09 B, a PE book ratio of 69.56 along with a stock beta of 1.05.

Many other analysts also commented on PEGI. Research Firm Zacks boosted Pattern Energy Group from a hold recommendation to a strong-buy recommendation and fixed a $29.00 price target for The corporation in a study note published on Wed, Jun 28th. Royal Bank Of Canada reissued a buy recommendation and fixed a $24.00 price objective on the stock of Pattern Energy Group in a study note on early Tue, May 9th. Credit Suisse Group reissued a buy recommendation and fixed a $22.00 price objective on the stock of Pattern Energy Group in a study note published on Wed, Apr 5th. Desjardins reissued a buy recommendation and fixed a $25.50 price objective on the stock of Pattern Energy Group in a study note published on early Thur, Apr 27th. Lastly, J P Morgan Chase & Co reissued a neutral recommendation and fixed a $24.00 price target (up prior from $23.00) on stocks of Pattern Energy Group in a study note on early Tue, Jun 20th. Six Brokerage firms have recommended the share with a hold recommendation and eight have published a buy recommendation to the firms shares. Pattern Energy Group has a average recommendation of Buy and a consensus price objective of $25.40.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) previously released its periodic earnings reports on early Tue, Aug 8th. The utilities provider posted $0.16 EPS for the period, exceeding Thomson Reuters’ average forecast of $0.13 by $0.03. the business reported sales of $107.76 M for the period end, compared with brokerage expectations of $124.02 M. Pattern Energy Group had a net profit margin of 7.77% and a ROE of 1.09%. Company’s for the quarter end, revenue was upwards of 15.4% on a YOY basis. for the same period in the previous fiscal year, firm posted ($0.04) EPS. analysts expect that Pattern Energy Group to post $0.39 earnings per share for the full year.

Most recently the business also disclosed a divided for the quarter, expected to be paid on early Tue, Oct 31st. traders with a divided record date on Fri, Sep 29th will be paid a $0.42 dividend. this indicates a $1.68 annual dividend and a payout of of 7.04%. A raise from Pattern Energy Group’s prior periodic dividend of $0.42. The ex-dividend date of this dividend is Thurs, Sep 28th. Pattern Energy Group’s yield is presently 506.08%.

In associated news, large stockholder Renewable Energy Gp Ii L. R/C unloaded 8,700,000 stocks of Pattern Energy Group shares in a trade on early Wed, Jun 21st. The stock was unloaded at a price range of of $21.91, amounting to $190,617,000.00. The information was declared in a document with the securities and exchange commission, which is available at the Security and Exchange Commission website. Also Executive Esben W. Pedersen unloaded 1,200 stocks of Pattern Energy Group shares in a trade on Early Thur, May 25th. The stock was unloaded at a price range of of $23.00, amounting $27,600.00. after the closing of the transaction the executive now has 146,067 stocks in the company, assessed at roughly $3,359,541. during the last ninety days, executives unloaded 8,707,300 stocks of company shares valued $190,790,306. 1.60% of the shares is held by executives.

Institutional investors have modified to their stake in the share. Vanguard Group increased its position in stocks of Pattern Energy Group by 0.7% in the Fiscal Q2. Vanguard Group has an ownership of 5,870,834 stocks of the utilities provider’s shares valued $139,961,000 after scooping up an extra 38,599 shares through out the quarter. BlackRock increased its position in stocks of Pattern Energy Group by 2.6% in the Fiscal Q2. BlackRock has an ownership of 5,157,269 stocks of the utilities provider’s shares valued $122,951,000 after scooping up an extra 130,085 shares through out the quarter. CI Investments increased its position in stocks of Pattern Energy Group by 0.3% in the Fiscal Q2. CI Investments has an ownership of 2,866,800 stocks of the utilities provider’s shares valued $68,345,000 after scooping up an extra 7,700 shares through out the quarter. Wellington Management Group LLP increased its position in stocks of Pattern Energy Group by 13.5% in the Q1. Wellington Management Group LLP has an ownership of 2,475,915 stocks of the utilities provider’s shares valued $49,841,000 after scooping up an extra 293,671 shares through out the quarter. Lastly, FMR increased its position in stocks of Pattern Energy Group by 6.8% in the Q1. FMR has an ownership of 2,442,853 stocks of the utilities provider’s shares valued $49,175,000 after scooping up an extra 155,900 shares through out the quarter.

About Pattern Energy Group

Pattern Energy Group is an independent power company focused on owning and operating power projects. The corporation holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.

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