Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) – Equities research analysts at National Bank Financial lowered their Q3 2017 earnings estimates for shares of Pattern Energy Group in a report issued on Sunday. National Bank Financial analyst R. Merer now anticipates that the utilities provider will post earnings per share of ($0.20) for the quarter, down from their prior estimate of ($0.16). National Bank Financial currently has a “Outperform” rating and a $34.50 price target on the stock.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $107.76 million during the quarter, compared to the consensus estimate of $124.02 million. Pattern Energy Group had a return on equity of 1.05% and a net margin of 7.77%. Pattern Energy Group’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS.

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Several other research firms have also recently issued reports on PEGI. Zacks Investment Research cut shares of Pattern Energy Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. BMO Capital Markets reiterated a “buy” rating and set a $28.50 price objective on shares of Pattern Energy Group in a research note on Friday, September 8th. ValuEngine raised Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Desjardins boosted their target price on Pattern Energy Group from $25.50 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Finally, Royal Bank Of Canada boosted their target price on Pattern Energy Group from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, June 20th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.40.

Pattern Energy Group (NASDAQ:PEGI) opened at 24.32 on Wednesday. The company’s 50-day moving average price is $25.19 and its 200 day moving average price is $23.39. Pattern Energy Group has a one year low of $18.68 and a one year high of $26.56. The firm has a market capitalization of $2.13 billion, a PE ratio of 70.90 and a beta of 1.04.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 annualized dividend and a yield of 6.91%. Pattern Energy Group’s dividend payout ratio is currently 509.11%.

In other Pattern Energy Group news, VP Daniel M. Elkort sold 4,100 shares of Pattern Energy Group stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $24.08, for a total value of $98,728.00. Following the transaction, the vice president now owns 75,173 shares in the company, valued at $1,810,165.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Esben W. Pedersen sold 2,400 shares of Pattern Energy Group stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $23.99, for a total transaction of $57,576.00. Following the completion of the transaction, the insider now owns 145,811 shares in the company, valued at approximately $3,498,005.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,400 shares of company stock valued at $253,840. Company insiders own 1.60% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its position in shares of Pattern Energy Group by 7.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,179 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 451 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Pattern Energy Group by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 25,151 shares of the utilities provider’s stock worth $601,000 after acquiring an additional 584 shares in the last quarter. Cbre Clarion Securities LLC boosted its stake in shares of Pattern Energy Group by 2.3% during the 2nd quarter. Cbre Clarion Securities LLC now owns 31,600 shares of the utilities provider’s stock worth $753,000 after acquiring an additional 700 shares in the last quarter. Atlantic Trust LLC grew its holdings in shares of Pattern Energy Group by 1.2% in the 1st quarter. Atlantic Trust LLC now owns 61,190 shares of the utilities provider’s stock worth $1,257,000 after acquiring an additional 754 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Pattern Energy Group by 9.0% in the 1st quarter. HighTower Advisors LLC now owns 11,466 shares of the utilities provider’s stock worth $229,000 after acquiring an additional 948 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

About Pattern Energy Group

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.

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

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