Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) VP Christopher M. Shugart sold 500 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $25.10, for a total value of $12,550.00. Following the sale, the vice president now directly owns 61,518 shares of the company’s stock, valued at $1,544,101.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Pattern Energy Group Inc. (NASDAQ:PEGI) traded down 0.16% during trading on Monday, hitting $25.08. The stock had a trading volume of 370,826 shares. Pattern Energy Group Inc. has a 1-year low of $18.68 and a 1-year high of $25.42. The stock’s 50-day moving average price is $24.62 and its 200 day moving average price is $22.56. The firm has a market capitalization of $2.20 billion, a P/E ratio of 73.12 and a beta of 1.05.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.70%. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, September 28th. Pattern Energy Group’s dividend payout ratio is 506.08%.

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

Large investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its stake in shares of Pattern Energy Group by 2.3% in the 1st quarter. California Public Employees Retirement System now owns 153,300 shares of the utilities provider’s stock worth $3,086,000 after purchasing an additional 3,500 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Pattern Energy Group by 51.4% in the 1st quarter. Baird Financial Group Inc. now owns 166,925 shares of the utilities provider’s stock worth $3,360,000 after purchasing an additional 56,643 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Pattern Energy Group by 88.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 106,996 shares of the utilities provider’s stock worth $2,154,000 after purchasing an additional 50,173 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Pattern Energy Group by 4.6% in the 1st quarter. Nationwide Fund Advisors now owns 77,802 shares of the utilities provider’s stock worth $1,566,000 after purchasing an additional 3,449 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Pattern Energy Group by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 5,832,235 shares of the utilities provider’s stock worth $117,403,000 after purchasing an additional 321,163 shares in the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.

About Pattern Energy Group

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.

Insider Buying and Selling by Quarter for Pattern Energy Group (NASDAQ:PEGI)

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