Wall Street analysts expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to report sales of $122.55 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Pattern Energy Group’s earnings, with estimates ranging from $114.10 million to $134.75 million. Pattern Energy Group posted sales of $92.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 33.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Pattern Energy Group will report full-year sales of $504.24 million for the current year, with estimates ranging from $440.58 million to $541.16 million. For the next year, analysts forecast that the firm will report sales of $605.52 million per share, with estimates ranging from $515.06 million to $783.03 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.26. The company had revenue of $136.00 million during the quarter, compared to analyst estimates of $141.20 million. Pattern Energy Group had a return on equity of 6.91% and a net margin of 28.80%. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share.

Several research firms have recently commented on PEGI. ValuEngine lowered Pattern Energy Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Zacks Investment Research lowered Pattern Energy Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Royal Bank of Canada lowered their price target on Pattern Energy Group from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, June 19th. Bank of America lowered Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research report on Friday, July 13th. Finally, BidaskClub upgraded Pattern Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Pattern Energy Group currently has an average rating of “Hold” and a consensus price target of $22.38.

Shares of Pattern Energy Group stock opened at $19.60 on Friday. The company has a market capitalization of $1.98 billion, a P/E ratio of 103.16, a price-to-earnings-growth ratio of 0.46 and a beta of 0.97. Pattern Energy Group has a fifty-two week low of $16.58 and a fifty-two week high of $26.56. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.86.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be paid a $0.422 dividend. This represents a $1.69 annualized dividend and a dividend yield of 8.61%. The ex-dividend date is Thursday, September 27th. Pattern Energy Group’s payout ratio is currently 889.47%.

Several hedge funds and other institutional investors have recently made changes to their positions in PEGI. Chicago Partners Investment Group LLC raised its stake in shares of Pattern Energy Group by 116.0% in the second quarter. Chicago Partners Investment Group LLC now owns 5,677 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 3,049 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Pattern Energy Group in the second quarter valued at $124,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Pattern Energy Group in the first quarter valued at $230,000. Atria Investments LLC raised its stake in shares of Pattern Energy Group by 33.3% in the first quarter. Atria Investments LLC now owns 13,878 shares of the utilities provider’s stock valued at $240,000 after acquiring an additional 3,469 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Pattern Energy Group by 28.1% in the second quarter. Xact Kapitalforvaltning AB now owns 16,846 shares of the utilities provider’s stock valued at $316,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.

About Pattern Energy Group

Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.

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