Reaves W H & Co. Inc. continued to hold its position in shares of Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 662,338 shares of the utilities provider’s stock at the end of the second quarter. Reaves W H & Co. Inc. owned 0.76% of Pattern Energy Group worth $15,790,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Nationwide Fund Advisors boosted its position in shares of Pattern Energy Group by 4.6% in the first quarter. Nationwide Fund Advisors now owns 77,802 shares of the utilities provider’s stock valued at $1,566,000 after buying an additional 3,449 shares during the period. Wells Fargo & Company MN boosted its position in shares of Pattern Energy Group by 40.6% in the first quarter. Wells Fargo & Company MN now owns 389,602 shares of the utilities provider’s stock valued at $7,843,000 after buying an additional 112,459 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Pattern Energy Group during the first quarter valued at about $5,536,000. First Trust Advisors LP boosted its position in shares of Pattern Energy Group by 7.2% in the first quarter. First Trust Advisors LP now owns 105,016 shares of the utilities provider’s stock valued at $2,114,000 after buying an additional 7,042 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Pattern Energy Group by 4.9% in the first quarter. Advisors Asset Management Inc. now owns 1,276,595 shares of the utilities provider’s stock valued at $25,698,000 after buying an additional 59,427 shares during the period.

Pattern Energy Group Inc. (NASDAQ PEGI) traded down 1.00% during midday trading on Friday, hitting $24.65. 330,826 shares of the stock traded hands. Pattern Energy Group Inc. has a 52 week low of $18.68 and a 52 week high of $25.42. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 71.87 and a beta of 1.05. The stock’s 50-day moving average price is $24.47 and its 200 day moving average price is $22.38.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its earnings results on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. Pattern Energy Group had a return on equity of 1.05% and a net margin of 7.77%. The business had revenue of $107.76 million during the quarter, compared to the consensus estimate of $124.02 million. During the same period last year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities research analysts predict that Pattern Energy Group Inc. will post $0.36 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.82%. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, September 28th. Pattern Energy Group’s dividend payout ratio (DPR) is 506.08%.

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PEGI has been the subject of several recent research reports. Royal Bank Of Canada restated a “buy” rating and issued a $24.00 price target on shares of Pattern Energy Group in a research report on Tuesday, May 9th. ValuEngine upgraded shares of Pattern Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co restated a “neutral” rating and issued a $24.00 price target (up from $23.00) on shares of Pattern Energy Group in a research report on Tuesday, June 20th. Desjardins upped their price target on shares of Pattern Energy Group from $25.50 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Raymond James Financial, Inc. upped their price target on shares of Pattern Energy Group from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, June 22nd. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Pattern Energy Group presently has an average rating of “Buy” and a consensus price target of $25.30.

In other news, insider Esben W. Pedersen sold 1,200 shares of Pattern Energy Group stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $23.00, for a total transaction of $27,600.00. Following the completion of the sale, the insider now directly owns 144,867 shares in the company, valued at $3,331,941. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel M. Elkort sold 4,100 shares of Pattern Energy Group stock in a transaction on Monday, August 14th. The stock was sold at an average price of $24.08, for a total value of $98,728.00. Following the sale, the vice president now owns 75,173 shares of the company’s stock, valued at $1,810,165.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,709,200 shares of company stock valued at $190,838,434. Corporate insiders own 1.60% of the company’s stock.

Pattern Energy Group Company Profile

Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.

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

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