Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday, The Fly reports.

Several other equities analysts have also recently issued reports on the company. National Bank Financial boosted their target price on Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a research report on Saturday, September 23rd. Zacks Investment Research cut Pattern Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. BMO Capital Markets reiterated a “buy” rating and set a $28.50 target price on shares of Pattern Energy Group in a research report on Friday, September 8th. Williams Capital initiated coverage on Pattern Energy Group in a research report on Monday, October 16th. They set a “buy” rating and a $28.00 target price on the stock. Finally, BidaskClub upgraded Pattern Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Pattern Energy Group presently has a consensus rating of “Buy” and an average price target of $25.65.

Pattern Energy Group (PEGI) traded up $0.03 on Tuesday, reaching $21.14. The company’s stock had a trading volume of 1,027,661 shares, compared to its average volume of 795,113. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.87. The stock has a market cap of $2,146.10, a P/E ratio of 2,192.00, a PEG ratio of 9.74 and a beta of 0.99. Pattern Energy Group has a 12-month low of $18.68 and a 12-month high of $26.56.

In related news, insider Esben W. Pedersen sold 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.01, for a total value of $55,224.00. Following the sale, the insider now owns 143,411 shares in the company, valued at approximately $3,299,887.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 8,200 shares of company stock worth $190,477. Insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEGI. Beach Investment Management LLC. grew its holdings in shares of Pattern Energy Group by 1,098.2% in the 2nd quarter. Beach Investment Management LLC. now owns 1,974,586 shares of the utilities provider’s stock worth $47,074,000 after acquiring an additional 1,809,792 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Pattern Energy Group by 21,212.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 784,517 shares of the utilities provider’s stock worth $18,702,000 after acquiring an additional 780,836 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Pattern Energy Group by 71.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,483,717 shares of the utilities provider’s stock worth $35,371,000 after acquiring an additional 619,369 shares during the period. Teachers Advisors LLC grew its holdings in shares of Pattern Energy Group by 432.8% in the 2nd quarter. Teachers Advisors LLC now owns 676,343 shares of the utilities provider’s stock worth $16,124,000 after acquiring an additional 549,399 shares during the period. Finally, Cohen & Steers Inc. grew its holdings in shares of Pattern Energy Group by 25.5% in the 3rd quarter. Cohen & Steers Inc. now owns 2,415,931 shares of the utilities provider’s stock worth $58,224,000 after acquiring an additional 490,987 shares during the period. Institutional investors and hedge funds own 75.45% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Pattern Energy Group (PEGI) Upgraded to Buy at Goldman Sachs Group” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/05/pattern-energy-group-pegi-upgraded-to-buy-at-goldman-sachs-group.html.

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.

The Fly

Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

Receive News & Ratings for Pattern Energy Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pattern Energy Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.