Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

PEGI has been the topic of a number of other research reports. Williams Capital started coverage on Pattern Energy Group in a research note on Monday, October 16th. They set a “buy” rating and a $28.00 price target on the stock. Goldman Sachs Group raised Pattern Energy Group from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, December 5th. Zacks Investment Research raised Pattern Energy Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 15th. National Bank Financial increased their price target on Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a research note on Saturday, September 23rd. Finally, Bank of America cut their target price on Pattern Energy Group from $21.00 to $19.00 and set an “underperform” rating on the stock in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $25.61.

Shares of Pattern Energy Group (NASDAQ PEGI) traded up $0.09 during trading on Friday, hitting $21.50. The company’s stock had a trading volume of 654,991 shares, compared to its average volume of 834,675. Pattern Energy Group has a one year low of $19.26 and a one year high of $26.56. The stock has a market cap of $2,096.17, a price-to-earnings ratio of 2,141.00, a PEG ratio of 3.86 and a beta of 0.99. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.87.

In related news, insider Esben W. Pedersen sold 2,400 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $21.59, for a total value of $51,816.00. Following the transaction, the insider now directly owns 134,528 shares of the company’s stock, valued at approximately $2,904,459.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 7,700 shares of company stock worth $172,657 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Pattern Energy Group by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,870,834 shares of the utilities provider’s stock valued at $139,961,000 after purchasing an additional 38,599 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Pattern Energy Group by 19.6% in the 2nd quarter. New York State Common Retirement Fund now owns 83,338 shares of the utilities provider’s stock valued at $1,987,000 after purchasing an additional 13,637 shares in the last quarter. Advisor Group Inc. increased its holdings in Pattern Energy Group by 31.0% in the 2nd quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 1,193 shares in the last quarter. Brookfield Asset Management Inc. increased its holdings in Pattern Energy Group by 10.0% in the 2nd quarter. Brookfield Asset Management Inc. now owns 2,465,908 shares of the utilities provider’s stock valued at $58,787,000 after purchasing an additional 224,508 shares in the last quarter. Finally, State Street Corp increased its holdings in Pattern Energy Group by 8.2% in the 2nd quarter. State Street Corp now owns 1,430,421 shares of the utilities provider’s stock valued at $34,101,000 after purchasing an additional 108,889 shares in the last quarter. Hedge funds and other institutional investors own 75.44% 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.

Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

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