Pattern Energy Group Inc (PEGI) Given Average Recommendation of “Hold” by Analysts

Shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) have received an average rating of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $24.62.

A number of analysts have recently commented on the company. Williams Capital assumed 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. BidaskClub downgraded Pattern Energy Group from a “sell” rating to a “strong sell” rating in a research report on Friday. ValuEngine downgraded Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Goldman Sachs Group upgraded Pattern Energy Group from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Tuesday, December 5th. Finally, BMO Capital Markets restated a “buy” rating and set a $26.00 price objective on shares of Pattern Energy Group in a research report on Tuesday, February 6th.

Shares of Pattern Energy Group (NASDAQ:PEGI) opened at $19.03 on Tuesday. Pattern Energy Group has a 12 month low of $18.20 and a 12 month high of $26.56. The company has a market capitalization of $1,860.00, a PE ratio of 475.75, a PEG ratio of 3.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.51 and a current ratio of 0.51.

In other news, insider Esben W. Pedersen sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $21.59, for a total transaction of $51,816.00. Following the completion of the transaction, the insider now directly owns 134,528 shares in the company, valued at $2,904,459.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 7,200 shares of company stock valued at $155,112 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Pattern Energy Group by 14.5% in the fourth quarter. BlackRock Inc. now owns 6,043,227 shares of the utilities provider’s stock worth $129,870,000 after purchasing an additional 766,256 shares in the last quarter. Vanguard Group Inc. increased its holdings in Pattern Energy Group by 0.7% in the second quarter. Vanguard Group Inc. now owns 5,870,834 shares of the utilities provider’s stock worth $139,961,000 after purchasing an additional 38,599 shares in the last quarter. CI Investments Inc. increased its holdings in Pattern Energy Group by 15.9% in the fourth quarter. CI Investments Inc. now owns 3,320,400 shares of the utilities provider’s stock worth $71,355,000 after purchasing an additional 456,300 shares in the last quarter. Brookfield Asset Management Inc. increased its holdings in Pattern Energy Group by 10.0% in the second quarter. Brookfield Asset Management Inc. now owns 2,465,908 shares of the utilities provider’s stock worth $58,787,000 after purchasing an additional 224,508 shares in the last quarter. Finally, Cohen & Steers Inc. increased its holdings in Pattern Energy Group by 25.5% in the third quarter. Cohen & Steers Inc. now owns 2,415,931 shares of the utilities provider’s stock worth $58,224,000 after purchasing an additional 490,987 shares in the last quarter. Institutional investors and hedge funds own 76.86% 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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