Equities research analysts expect Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) to post sales of $130.84 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pattern Energy Group’s earnings. The highest sales estimate is $140.41 million and the lowest is $125.80 million. Pattern Energy Group posted sales of $93.44 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 40%. The firm is scheduled to announce its next earnings report on Friday, August 4th.

On average, analysts expect that Pattern Energy Group will report full year sales of $130.84 million for the current year, with estimates ranging from $449.00 million to $525.61 million. For the next financial year, analysts anticipate that the business will report sales of $571.76 million per share, with estimates ranging from $484.00 million to $636.29 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Pattern Energy Group.

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 for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $100.80 million during the quarter, compared to the consensus estimate of $114.35 million. Pattern Energy Group had a net margin of 3.33% and a return on equity of 0.37%. Pattern Energy Group’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS.

A number of research firms have weighed in on PEGI. Raymond James Financial, Inc. lifted their price objective on shares of Pattern Energy Group from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a report on Wednesday, June 28th. Royal Bank Of Canada lifted their price objective on shares of Pattern Energy Group from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, June 20th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Pattern Energy Group in a report on Tuesday, June 20th. Finally, ValuEngine raised shares of Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $25.25.

Shares of Pattern Energy Group (PEGI) traded down 1.329% on Thursday, reaching $23.395. 200,577 shares of the company traded hands. The company has a 50-day moving average of $23.14 and a 200-day moving average of $21.00. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 167.107 and a beta of 1.04. Pattern Energy Group has a 1-year low of $18.68 and a 1-year high of $25.42.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be given 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 annualized dividend and a dividend yield of 7.05%. Pattern Energy Group’s dividend payout ratio (DPR) is 1,284.71%.

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In other news, major shareholder Renewable Energy Gp Ii L. R/C sold 8,700,000 shares of Pattern Energy Group stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $21.91, for a total value of $190,617,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Esben W. Pedersen sold 1,200 shares of Pattern Energy Group stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $23.00, for a total transaction of $27,600.00. Following the completion of the sale, the insider now owns 146,067 shares in the company, valued at approximately $3,359,541. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,705,600 shares of company stock worth $190,747,500. Company insiders own 1.79% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Atlantic Trust LLC raised its stake in shares of Pattern Energy Group by 1.2% in the first quarter. Atlantic Trust LLC now owns 61,190 shares of the utilities provider’s stock valued at $1,257,000 after buying an additional 754 shares during the period. HighTower Advisors LLC raised its stake in shares of Pattern Energy Group by 9.0% in the first quarter. HighTower Advisors LLC now owns 11,466 shares of the utilities provider’s stock valued at $229,000 after buying an additional 948 shares during the period. Brookfield Asset Management Inc. raised its stake in shares of Pattern Energy Group by 887.8% in the first quarter. Brookfield Asset Management Inc. now owns 2,241,400 shares of the utilities provider’s stock valued at $45,119,000 after buying an additional 2,014,500 shares during the period. Shelton Capital Management raised its stake in shares of Pattern Energy Group by 7.5% in the first quarter. Shelton Capital Management now owns 72,000 shares of the utilities provider’s stock valued at $1,449,000 after buying an additional 5,000 shares during the period. Finally, Eventide Asset Management LLC raised its stake in shares of Pattern Energy Group by 1.0% in the first quarter. Eventide Asset Management LLC now owns 890,000 shares of the utilities provider’s stock valued at $17,916,000 after buying an additional 9,000 shares during the period.

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

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