AMP Capital Investors Ltd lessened its stake in shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 2.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 186,872 shares of the utilities provider’s stock after selling 5,462 shares during the period. AMP Capital Investors Ltd owned about 0.19% of Pattern Energy Group worth $3,504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEGI. Swiss National Bank increased its holdings in Pattern Energy Group by 5.6% during the first quarter. Swiss National Bank now owns 146,149 shares of the utilities provider’s stock worth $2,527,000 after buying an additional 7,700 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Pattern Energy Group by 6.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 417,869 shares of the utilities provider’s stock worth $7,225,000 after buying an additional 24,578 shares during the last quarter. Aperio Group LLC increased its holdings in Pattern Energy Group by 31.8% during the first quarter. Aperio Group LLC now owns 147,731 shares of the utilities provider’s stock worth $2,554,000 after buying an additional 35,669 shares during the last quarter. KBC Group NV increased its holdings in Pattern Energy Group by 88.6% during the first quarter. KBC Group NV now owns 28,423 shares of the utilities provider’s stock worth $491,000 after buying an additional 13,349 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Pattern Energy Group by 0.7% during the first quarter. Northern Trust Corp now owns 960,793 shares of the utilities provider’s stock worth $16,612,000 after buying an additional 6,318 shares during the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.

Shares of NASDAQ:PEGI opened at $20.45 on Tuesday. 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 stock has a market cap of $1.99 billion, a price-to-earnings ratio of 106.95, a price-to-earnings-growth ratio of 0.46 and a beta of 0.97. Pattern Energy Group Inc has a twelve month low of $16.58 and a twelve month high of $26.56.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its earnings results on Thursday, August 9th. The utilities provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.26. Pattern Energy Group had a net margin of 28.80% and a return on equity of 6.91%. The firm had revenue of $136.00 million during the quarter, compared to analyst estimates of $141.20 million. During the same quarter last year, the business earned $0.16 earnings per share. The company’s quarterly revenue was up 26.2% on a year-over-year basis. analysts predict that Pattern Energy Group Inc will post 1.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be given a $0.422 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 8.25%. Pattern Energy Group’s dividend payout ratio (DPR) is currently 889.47%.

A number of equities analysts have weighed in on PEGI shares. BidaskClub upgraded shares of Pattern Energy Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 26th. ValuEngine lowered shares of Pattern Energy Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Royal Bank of Canada cut their target price on shares of 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 shares of Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research report on Friday, July 13th. Finally, Zacks Investment Research upgraded shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Monday, July 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.13.

Pattern Energy Group Profile

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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Institutional Ownership by Quarter for Pattern Energy Group (NASDAQ:PEGI)

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