Pattern Energy Group Inc. (NASDAQ:PEGI) – Investment analysts at KeyCorp upped their FY2016 earnings per share (EPS) estimates for shares of Pattern Energy Group in a report released on Wednesday. KeyCorp analyst M. Tucker now forecasts that the firm will post earnings of ($0.34) per share for the year, up from their prior forecast of ($0.40). KeyCorp also issued estimates for Pattern Energy Group’s Q4 2016 earnings at $0.07 EPS and FY2017 earnings at $0.19 EPS.

PEGI has been the subject of several other research reports. Oppenheimer Holdings Inc. initiated coverage on Pattern Energy Group in a research report on Thursday, September 8th. They issued an “outperform” rating and a $36.00 price objective for the company. RBC Capital Markets reiterated an “outperform” rating on shares of Pattern Energy Group in a research report on Sunday, September 25th. Zacks Investment Research upgraded Pattern Energy Group from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Saturday. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Pattern Energy Group in a research note on Thursday, August 18th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Pattern Energy Group currently has a consensus rating of “Buy” and a consensus target price of $26.89.

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

Pattern Energy Group (NASDAQ:PEGI) opened at 19.34 on Friday. Pattern Energy Group has a 52 week low of $14.56 and a 52 week high of $25.13. The firm’s 50-day moving average price is $21.92 and its 200 day moving average price is $22.50. The company’s market capitalization is $1.69 billion.

Pattern Energy Group (NASDAQ:PEGI) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $91.90 million for the quarter, compared to analysts’ expectations of $98.36 million. During the same period last year, the business earned ($0.40) EPS. The business’s revenue was up 2.5% on a year-over-year basis.

A number of large investors have recently modified their holdings of PEGI. TIAA CREF Investment Management LLC boosted its stake in shares of Pattern Energy Group by 21.8% in the first quarter. TIAA CREF Investment Management LLC now owns 269,356 shares of the company’s stock valued at $5,137,000 after buying an additional 48,291 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of Pattern Energy Group by 1.7% in the first quarter. Teachers Advisors Inc. now owns 82,204 shares of the company’s stock valued at $1,568,000 after buying an additional 1,373 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Pattern Energy Group by 6.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,520,164 shares of the company’s stock valued at $28,990,000 after buying an additional 96,092 shares during the last quarter. UBS Group AG boosted its stake in shares of Pattern Energy Group by 4.1% in the first quarter. UBS Group AG now owns 144,712 shares of the company’s stock valued at $2,760,000 after buying an additional 5,726 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Pattern Energy Group by 5.0% in the first quarter. Wellington Management Group LLP now owns 3,095,569 shares of the company’s stock valued at $59,033,000 after buying an additional 146,617 shares during the last quarter.

In related news, VP Daniel M. Elkort sold 11,290 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $23.80, for a total value of $268,702.00. Following the sale, the vice president now directly owns 60,796 shares of the company’s stock, valued at $1,446,944.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patricia S. Bellinger purchased 2,000 shares of Pattern Energy Group stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average cost of $23.01 per share, for a total transaction of $46,020.00. Following the completion of the purchase, the director now owns 12,865 shares of the company’s stock, valued at $296,023.65. The disclosure for this purchase can be found here. 1.79% of the stock is owned by corporate insiders.

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

About Pattern Energy Group

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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