Pattern Energy Group Inc. (NASDAQ:PEGI) – Investment analysts at National Bank Financial boosted their FY2016 EPS estimates for shares of Pattern Energy Group in a research note issued on Monday. National Bank Financial analyst R. Merer now forecasts that the brokerage will earn ($0.26) per share for the year, up from their prior forecast of ($0.30). National Bank Financial also issued estimates for Pattern Energy Group’s Q4 2016 earnings at $0.11 EPS.

Pattern Energy Group (NASDAQ:PEGI) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Pattern Energy Group had a positive return on equity of 0.16% and a negative net margin of 7.83%. The firm had revenue of $91.90 million for the quarter, compared to analysts’ expectations of $98.36 million. During the same period in the prior year, the firm posted ($0.40) earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis.

Earnings History and Estimates for Pattern Energy Group (NASDAQ:PEGI)

A number of other equities research analysts also recently issued reports on PEGI. Zacks Investment Research upgraded shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Saturday. RBC Capital Markets reissued an “outperform” rating and set a $35.00 price objective on shares of Pattern Energy Group in a research note on Tuesday. Oppenheimer Holdings Inc. began coverage on shares of Pattern Energy Group in a research note on Thursday, September 8th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Pattern Energy Group in a research note on Thursday, August 18th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.89.

Pattern Energy Group (NASDAQ:PEGI) opened at 19.34 on Thursday. The company has a 50-day moving average price of $21.92 and a 200-day moving average price of $22.50. The firm’s market capitalization is $1.69 billion. Pattern Energy Group has a 12-month low of $14.56 and a 12-month high of $25.13.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be paid a $0.408 dividend. This is a boost from Pattern Energy Group’s previous quarterly dividend of $0.40. This represents a $1.63 annualized dividend and a yield of 8.44%. The ex-dividend date of this dividend is Wednesday, December 28th. Pattern Energy Group’s payout ratio is presently -421.05%.

In related news, Director Patricia S. Bellinger acquired 2,000 shares of the stock in a transaction dated Tuesday, August 16th. The stock was bought at an average cost of $23.01 per share, with a total value of $46,020.00. Following the purchase, the director now directly owns 12,865 shares of the company’s stock, valued at $296,023.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $23.01, for a total transaction of $27,612.00. Following the sale, the insider now directly owns 127,053 shares of the company’s stock, valued at $2,923,489.53. The disclosure for this sale can be found here. 1.79% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in PEGI. Morgan Stanley boosted its stake in shares of Pattern Energy Group by 14.5% in the third quarter. Morgan Stanley now owns 4,540,843 shares of the company’s stock valued at $102,124,000 after buying an additional 576,451 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Pattern Energy Group by 14.5% in the third quarter. Northern Trust Corp now owns 787,554 shares of the company’s stock valued at $17,712,000 after buying an additional 99,906 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Pattern Energy Group by 16.0% in the third quarter. California State Teachers Retirement System now owns 140,358 shares of the company’s stock valued at $3,157,000 after buying an additional 19,400 shares in the last quarter. RobecoSam USA Inc. boosted its stake in shares of Pattern Energy Group by 16.5% in the third quarter. RobecoSam USA Inc. now owns 13,400 shares of the company’s stock valued at $301,000 after buying an additional 1,900 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Pattern Energy Group by 18.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,784,897 shares of the company’s stock valued at $40,142,000 after buying an additional 278,977 shares in the last quarter.

Pattern Energy Group Company Profile

Pattern Energy Group Inc (Pattern Energy) is an independent power company focused on owning and operating power projects. The Company holds interests in over 16 wind power projects located in the United States, Canada and Chile with total capacity of over 2,280 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.

5 Day Chart for NASDAQ:PEGI

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