Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) – Stock analysts at Oppenheimer Holdings boosted their FY2017 earnings per share (EPS) estimates for Pattern Energy Group in a research report issued on Tuesday. Oppenheimer Holdings analyst C. Rusch now anticipates that the utilities provider will post earnings per share of $0.10 for the year, up from their prior estimate of ($0.11).

PEGI has been the subject of a number of other reports. Royal Bank Of Canada increased their target price on Pattern Energy Group from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, June 20th. ValuEngine raised Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Pattern Energy Group from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Wednesday, June 28th. Desjardins reissued a “buy” rating and issued a $25.50 target price on shares of Pattern Energy Group in a report on Thursday, April 27th. Finally, Raymond James Financial, Inc. increased their target price on Pattern Energy Group from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, June 22nd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Pattern Energy Group has an average rating of “Buy” and an average price target of $25.40.

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Shares of Pattern Energy Group (NASDAQ PEGI) traded up 0.59% during midday trading on Friday, hitting $23.72. The stock had a trading volume of 85,586 shares. The firm has a 50-day moving average of $24.46 and a 200 day moving average of $22.01. Pattern Energy Group has a 12-month low of $18.68 and a 12-month high of $25.42. The firm has a market cap of $2.08 billion, a PE ratio of 69.15 and a beta of 1.05.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. Pattern Energy Group had a return on equity of 1.09% and a net margin of 7.77%. The business had revenue of $107.76 million during the quarter, compared to the consensus estimate of $124.02 million. During the same period in the previous year, the business earned ($0.04) EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis.

Several large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in Pattern Energy Group by 2.4% in the second quarter. Legal & General Group Plc now owns 25,151 shares of the utilities provider’s stock valued at $601,000 after buying an additional 584 shares during the period. Atlantic Trust LLC boosted its stake in Pattern Energy Group by 1.2% in the first quarter. Atlantic Trust LLC now owns 61,190 shares of the utilities provider’s stock valued at $1,257,000 after buying an additional 754 shares during the period. HighTower Advisors LLC boosted its stake in Pattern Energy Group by 9.0% in the first quarter. HighTower Advisors LLC now owns 11,466 shares of the utilities provider’s stock valued at $229,000 after buying an additional 948 shares during the period. Oliver Luxxe Assets LLC boosted its stake in Pattern Energy Group by 1.3% in the first quarter. Oliver Luxxe Assets LLC now owns 76,721 shares of the utilities provider’s stock valued at $1,544,000 after buying an additional 954 shares during the period. Finally, US Bancorp DE boosted its stake in Pattern Energy Group by 24.4% in the first quarter. US Bancorp DE now owns 6,274 shares of the utilities provider’s stock valued at $126,000 after buying an additional 1,231 shares during the period.

In other news, insider Esben W. Pedersen sold 1,200 shares of Pattern Energy Group stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $23.00, for a total value of $27,600.00. Following the completion of the sale, the insider now directly owns 144,867 shares of the company’s stock, valued at approximately $3,331,941. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Renewable Energy Gp Ii L. R/C sold 8,700,000 shares of Pattern Energy Group stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $21.91, for a total value of $190,617,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,707,300 shares of company stock valued at $190,790,306 over the last ninety days. Insiders own 1.60% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 7.12%. This is a boost from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, September 28th. Pattern Energy Group’s dividend payout ratio (DPR) is currently 506.08%.

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.

Earnings History and Estimates for Pattern Energy Group (NASDAQ:PEGI)

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