Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) had its price objective lifted by National Bank Financial from $27.00 to $34.50 in a research note issued to investors on Saturday. They currently have an outperform rating on the utilities provider’s stock.

A number of other equities analysts also recently issued reports on PEGI. ValuEngine raised shares of Pattern Energy Group from a sell rating to a hold rating in a research note on Friday, June 2nd. Royal Bank Of Canada reissued a buy rating and issued a $24.00 price target on shares of Pattern Energy Group in a research note on Friday, June 9th. J P Morgan Chase & Co reissued a neutral rating and issued a $24.00 price target (up from $23.00) on shares of Pattern Energy Group in a research note on Tuesday, June 20th. Desjardins increased their price target on shares of Pattern Energy Group from $25.50 to $26.00 and gave the stock a buy rating in a research note on Tuesday, June 20th. Finally, Raymond James Financial, Inc. increased their price target on shares of Pattern Energy Group from $26.00 to $27.00 and gave the stock an outperform rating in a research note on Thursday, June 22nd. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $26.18.

Shares of Pattern Energy Group (NASDAQ:PEGI) opened at 25.53 on Friday. The company has a 50-day moving average price of $24.94 and a 200-day moving average price of $23.00. Pattern Energy Group has a 12 month low of $18.68 and a 12 month high of $26.56. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 74.43 and a beta of 1.05.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. Pattern Energy Group had a net margin of 7.77% and a return on equity of 1.05%. The company had revenue of $107.76 million during the quarter, compared to the consensus estimate of $124.02 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. Pattern Energy Group’s revenue was up 15.4% on a year-over-year basis. On average, equities analysts anticipate that Pattern Energy Group will post $0.35 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.42 per share. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, September 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.58%. Pattern Energy Group’s dividend payout ratio (DPR) is currently 506.08%.

In other Pattern Energy Group news, insider Esben W. Pedersen sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $24.00, for a total transaction of $28,800.00. Following the completion of the transaction, the insider now owns 150,611 shares of the company’s stock, valued at $3,614,664. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel M. Elkort sold 4,100 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $24.08, for a total transaction of $98,728.00. Following the sale, the vice president now owns 75,173 shares in the company, valued at approximately $1,810,165.84. The disclosure for this sale can be found here. Insiders have sold 9,200 shares of company stock valued at $225,004 in the last ninety days. Insiders own 1.60% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its holdings in shares of Pattern Energy Group by 7.9% during the second quarter. Ameritas Investment Partners Inc. now owns 6,179 shares of the utilities provider’s stock valued at $147,000 after buying an additional 451 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Pattern Energy Group by 2.4% during 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 last quarter. Cbre Clarion Securities LLC grew its holdings in shares of Pattern Energy Group by 2.3% during the second quarter. Cbre Clarion Securities LLC now owns 31,600 shares of the utilities provider’s stock valued at $753,000 after buying an additional 700 shares during the last quarter. Atlantic Trust LLC grew its holdings in shares of Pattern Energy Group by 1.2% during 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 last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Pattern Energy Group by 9.0% during 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 last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.

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.

Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

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