Wall Street analysts predict that Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) will report ($0.04) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pattern Energy Group’s earnings, with estimates ranging from ($0.21) to $0.10. Pattern Energy Group reported earnings per share of ($0.26) in the same quarter last year, which would indicate a positive year-over-year growth rate of 84.6%. The company is expected to report its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Pattern Energy Group will report full year earnings of $1.51 per share for the current fiscal year, with EPS estimates ranging from $1.12 to $1.77. For the next financial year, analysts anticipate that the firm will post earnings of $0.45 per share, with EPS estimates ranging from ($0.14) to $1.03. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Pattern Energy Group.

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

A number of research analysts recently weighed in on PEGI shares. Bank of America lowered Pattern Energy Group from a “neutral” rating to an “underperform” rating in a report on Friday, July 13th. Zacks Investment Research raised Pattern Energy Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Monday, July 16th. ValuEngine lowered Pattern Energy Group from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. BidaskClub raised Pattern Energy Group from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Finally, National Bank Financial lowered their target price on Pattern Energy Group from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $22.38.

PEGI stock traded down $0.49 on Friday, reaching $19.99. 752,200 shares of the company’s stock were exchanged, compared to its average volume of 1,045,906. Pattern Energy Group has a twelve month low of $16.58 and a twelve month high of $26.56. The firm has a market capitalization of $1.99 billion, a PE ratio of 107.79, a P/E/G ratio of 0.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.91 and a quick ratio of 0.91.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be issued a $0.422 dividend. This represents a $1.69 annualized dividend and a yield of 8.44%. The ex-dividend date is Thursday, September 27th. Pattern Energy Group’s dividend payout ratio (DPR) is 889.47%.

Institutional investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its holdings in 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 purchasing an additional 3,049 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Pattern Energy Group during the second quarter valued at $124,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Pattern Energy Group during the first quarter valued at $230,000. Atria Investments LLC boosted its stake in shares of Pattern Energy Group by 33.3% during 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 during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of Pattern Energy Group by 28.1% during 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 during the last quarter. 90.07% of the stock is currently owned by institutional investors.

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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