Goldman Sachs Group upgraded shares of Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) from a neutral rating to a buy rating in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has $21.00 target price on the utilities provider’s stock.

A number of other analysts have also recently weighed in on PEGI. Zacks Investment Research cut Pattern Energy Group from a buy rating to a hold rating in a research report on Tuesday, August 8th. BidaskClub cut Pattern Energy Group from a strong-buy rating to a buy rating in a research report on Thursday, August 10th. BMO Capital Markets reaffirmed a buy rating and set a $28.50 price objective on shares of Pattern Energy Group in a research report on Friday, September 8th. National Bank Financial increased their price objective on Pattern Energy Group from $27.00 to $34.50 and gave the stock an outperform rating in a research report on Saturday, September 23rd. Finally, Williams Capital initiated coverage on Pattern Energy Group in a research report on Monday, October 16th. They set a buy rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $25.65.

Pattern Energy Group (PEGI) traded up $0.29 during trading on Tuesday, reaching $21.33. The company’s stock had a trading volume of 760,200 shares, compared to its average volume of 797,061. Pattern Energy Group has a 52 week low of $18.68 and a 52 week high of $26.56. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.87. The firm has a market cap of $2,059.94, a PE ratio of 2,104.00, a price-to-earnings-growth ratio of 9.35 and a beta of 0.99.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a $0.422 dividend. This is a boost from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 7.91%. The ex-dividend date is Thursday, December 28th. Pattern Energy Group’s dividend payout ratio (DPR) is currently 4,201.05%.

In related news, insider Esben W. Pedersen sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.01, for a total value of $55,224.00. Following the completion of the transaction, the insider now directly owns 143,411 shares of the company’s stock, valued at approximately $3,299,887.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 8,200 shares of company stock valued at $190,477 over the last three months. Insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEGI. Ameritas Investment Partners Inc. increased its position in 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 worth $147,000 after buying an additional 451 shares in the last quarter. Legal & General Group Plc increased its position in 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 worth $601,000 after buying an additional 584 shares in the last quarter. Cbre Clarion Securities LLC increased its position in 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 worth $753,000 after buying an additional 700 shares in the last quarter. Advisor Group Inc. increased its position in Pattern Energy Group by 31.0% during the second quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after buying an additional 1,193 shares in the last quarter. Finally, Oliver Luxxe Assets LLC increased its position in Pattern Energy Group by 1.6% during the second quarter. Oliver Luxxe Assets LLC now owns 77,931 shares of the utilities provider’s stock worth $1,858,000 after buying an additional 1,210 shares in the last quarter. 75.45% of the stock is owned by hedge funds and other institutional investors.

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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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