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Pattern Energy Group (NASDAQ:PEGI) shares hit a new 52-week high during mid-day trading on Friday , American Banking News reports. The stock traded as high as $32.40 and last traded at $31.90, with a volume of 192,505 shares changing hands. The stock had previously closed at $31.37.

Separately, analysts at CIBC initiated coverage on shares of Pattern Energy Group in a research note on Thursday, May 1st. They set an “outperform” rating and a $31.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Pattern Energy Group currently has an average rating of “Buy” and a consensus price target of $30.90.

The stock’s 50-day moving average is $29.50 and its 200-day moving average is $28.2. The company has a market cap of $1.153 billion and a P/E ratio of 468.21.

Pattern Energy Group (NASDAQ:PEGI) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by $1.16. The company had revenue of $49.50 billion for the quarter, compared to the consensus estimate of $57.18 billion. On average, analysts predict that Pattern Energy Group will post $0.37 earnings per share for the current fiscal year.

Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.

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