Analysts expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to report sales of $132.26 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Pattern Energy Group’s earnings, with estimates ranging from $123.90 million to $140.18 million. Pattern Energy Group reported sales of $81.06 million in the same quarter last year, which indicates a positive year over year growth rate of 63.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Pattern Energy Group will report full year sales of $132.26 million for the current fiscal year, with estimates ranging from $424.60 million to $467.35 million. For the next financial year, analysts anticipate that the business will post sales of $566.12 million per share, with estimates ranging from $544.90 million to $585.05 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Pattern Energy Group.

Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, August 25th. Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Pattern Energy Group in a report on Tuesday, October 24th. Raymond James Financial lowered their price target on shares of Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 13th. BMO Capital Markets lowered their price target on shares of Pattern Energy Group from $28.50 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Finally, Wells Fargo & Company lowered their price target on shares of Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $25.65.

Pattern Energy Group (NASDAQ:PEGI) traded up $0.08 during trading on Friday, reaching $21.41. 921,726 shares of the company’s stock traded hands, compared to its average volume of 950,214. The company has a market cap of $2,088.33, a PE ratio of 2,133.00, a P/E/G ratio of 9.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.51 and a current ratio of 0.51. Pattern Energy Group has a 52-week low of $18.68 and a 52-week high of $26.56.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a dividend of $0.422 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 7.88%. Pattern Energy Group’s dividend payout ratio (DPR) is currently 4,201.05%.

In other news, insider Esben W. Pedersen sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $22.53, for a total transaction of $54,072.00. Following the transaction, the insider now directly owns 141,011 shares of the company’s stock, valued at $3,176,977.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 8,200 shares of company stock worth $190,477 over the last ninety days. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Pattern Energy Group by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,870,834 shares of the utilities provider’s stock worth $139,961,000 after acquiring an additional 38,599 shares in the last quarter. BlackRock Inc. boosted its position in shares of Pattern Energy Group by 2.6% during the 2nd quarter. BlackRock Inc. now owns 5,157,269 shares of the utilities provider’s stock worth $122,951,000 after acquiring an additional 130,085 shares in the last quarter. CI Investments Inc. boosted its position in shares of Pattern Energy Group by 0.3% during the 2nd quarter. CI Investments Inc. now owns 2,866,800 shares of the utilities provider’s stock worth $68,345,000 after acquiring an additional 7,700 shares in the last quarter. Brookfield Asset Management Inc. boosted its position in shares of Pattern Energy Group by 10.0% during the 2nd quarter. Brookfield Asset Management Inc. now owns 2,465,908 shares of the utilities provider’s stock worth $58,787,000 after acquiring an additional 224,508 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its position in shares of Pattern Energy Group by 25.5% during 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 in the last quarter. Institutional investors and hedge funds own 75.45% of the company’s stock.

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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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