Pattern Energy Group Inc to Post FY2018 Earnings of $0.18 Per Share, National Bank Financial Forecasts (PEGI)

Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) – Research analysts at National Bank Financial upped their FY2018 earnings estimates for Pattern Energy Group in a note issued to investors on Tuesday. National Bank Financial analyst R. Merer now forecasts that the utilities provider will post earnings of $0.18 per share for the year, up from their prior estimate of $0.11. National Bank Financial currently has a “Outperform” rating and a $25.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price objective on shares of Pattern Energy Group in a research report on Tuesday, February 6th. Bank of America reaffirmed an “underperform” rating and set a $21.00 price objective on shares of Pattern Energy Group in a research report on Tuesday, October 24th. Raymond James Financial reduced their price objective on shares of Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 13th. Finally, BidaskClub downgraded shares of Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.79.

Pattern Energy Group (PEGI) traded up $0.09 during trading on Thursday, reaching $18.57. 916,400 shares of the company’s stock traded hands, compared to its average volume of 896,619. The company has a market cap of $1,809.30, a price-to-earnings ratio of 470.87, a price-to-earnings-growth ratio of 3.22 and a beta of 0.88. Pattern Energy Group has a 52-week low of $18.15 and a 52-week high of $26.56. 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 Pattern Energy Group stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $21.59, for a total value of $51,816.00. Following the completion of the sale, the insider now owns 134,528 shares of the company’s stock, valued at approximately $2,904,459.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 7,200 shares of company stock valued at $155,112. 1.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in Pattern Energy Group during the 3rd quarter worth $107,000. IFP Advisors Inc boosted its holdings in Pattern Energy Group by 139.6% during the 4th quarter. IFP Advisors Inc now owns 5,337 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 3,110 shares during the last quarter. Advisor Group Inc. boosted its holdings in Pattern Energy Group by 31.0% during the 2nd quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 1,193 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Pattern Energy Group during the 3rd quarter worth $135,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in 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 worth $147,000 after acquiring an additional 451 shares during the last quarter. 76.86% of the stock is owned by institutional investors and hedge funds.

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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.

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