Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) – Investment analysts at National Bank Financial lifted their Q4 2017 earnings per share (EPS) estimates for shares of Pattern Energy Group in a report released on Monday. National Bank Financial analyst R. Merer now forecasts that the utilities provider will earn $0.19 per share for the quarter, up from their previous forecast of $0.17.

Other analysts have also issued research reports about the company. Royal Bank Of Canada restated a “buy” rating and set a $24.00 price target on shares of Pattern Energy Group in a report on Tuesday, May 9th. Desjardins restated a “buy” rating and set a $25.50 price target on shares of Pattern Energy Group in a report on Thursday, April 27th. Credit Suisse Group restated a “buy” rating and set a $22.00 price target on shares of Pattern Energy Group in a report on Wednesday, April 5th. ValuEngine upgraded Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Macquarie lowered Pattern Energy Group from an “outperform” rating to a “neutral” rating in a report on Thursday, March 23rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $24.13.

Earnings History and Estimates for Pattern Energy Group (NASDAQ:PEGI)

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Shares of Pattern Energy Group (NASDAQ PEGI) traded up 0.886% on Wednesday, hitting $24.475. 227,897 shares of the stock traded hands. The firm has a market cap of $2.14 billion, a PE ratio of 174.821 and a beta of 1.05. Pattern Energy Group has a 52-week low of $18.68 and a 52-week high of $25.13. The firm has a 50 day moving average price of $22.55 and a 200 day moving average price of $20.76.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its earnings results on Tuesday, May 9th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. Pattern Energy Group had a net margin of 3.33% and a return on equity of 0.37%. The firm had revenue of $100.80 million for the quarter, compared to analysts’ expectations of $114.35 million. During the same quarter last year, the business earned ($0.32) earnings per share. The business’s revenue was up 15.1% on a year-over-year basis.

A number of hedge funds have recently added to or reduced their stakes in the company. American National Registered Investment Advisor Inc. raised its stake in Pattern Energy Group by 3.2% in the fourth quarter. American National Registered Investment Advisor Inc. now owns 23,380 shares of the utilities provider’s stock worth $444,000 after buying an additional 725 shares during the last quarter. Boothbay Fund Management LLC raised its stake in Pattern Energy Group by 29.8% in the fourth quarter. Boothbay Fund Management LLC now owns 24,227 shares of the utilities provider’s stock worth $460,000 after buying an additional 5,556 shares during the last quarter. Guggenheim Capital LLC raised its stake in Pattern Energy Group by 17.7% in the fourth quarter. Guggenheim Capital LLC now owns 205,508 shares of the utilities provider’s stock worth $3,903,000 after buying an additional 30,910 shares during the last quarter. Franklin Resources Inc. raised its stake in Pattern Energy Group by 16.9% in the fourth quarter. Franklin Resources Inc. now owns 48,660 shares of the utilities provider’s stock worth $924,000 after buying an additional 7,030 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Pattern Energy Group by 53.1% in the fourth quarter. GSA Capital Partners LLP now owns 44,300 shares of the utilities provider’s stock worth $841,000 after buying an additional 15,356 shares during the last quarter.

In other Pattern Energy Group news, insider Esben W. Pedersen sold 1,200 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $23.00, for a total value of $27,600.00. Following the sale, the insider now owns 144,867 shares in the company, valued at $3,331,941. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 3,900 shares of company stock worth $89,700. Insiders own 1.79% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a $0.418 dividend. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.67 dividend on an annualized basis and a yield of 6.89%. Pattern Energy Group’s dividend payout ratio (DPR) is presently 1,269.33%.

Pattern Energy Group Company Profile

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