Equities research analysts expect that Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) will report $115.50 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Pattern Energy Group’s earnings. The lowest sales estimate is $111.20 million and the highest is $119.80 million. Pattern Energy Group reported sales of $91.91 million in the same quarter last year, which would suggest a positive year over year growth rate of 25.7%. The business is scheduled to issue its next earnings results on Monday, November 6th.

On average, analysts expect that Pattern Energy Group will report full-year sales of $115.50 million for the current fiscal year, with estimates ranging from $447.00 million to $473.95 million. For the next financial year, analysts anticipate that the firm will report sales of $586.96 million per share, with estimates ranging from $562.20 million to $636.29 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its earnings results on Tuesday, August 8th. The utilities provider reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. Pattern Energy Group had a net margin of 7.77% and a return on equity of 1.05%. The company had revenue of $107.76 million for the quarter, compared to the consensus estimate of $124.02 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year.

Several analysts have recently issued reports on the company. Desjardins increased their target price on Pattern Energy Group from $25.50 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research lowered Pattern Energy Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub lowered Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. BMO Capital Markets reissued a “buy” rating and set a $28.00 target price on shares of Pattern Energy Group in a report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $24.00 target price (up from $23.00) on shares of Pattern Energy Group in a report on Tuesday, June 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $26.18.

Shares of Pattern Energy Group (NASDAQ:PEGI) traded down 1.60% during midday trading on Friday, hitting $25.90. 1,141,499 shares of the stock traded hands. The company has a market capitalization of $2.27 billion, a P/E ratio of 75.51 and a beta of 1.05. The stock has a 50 day moving average of $24.94 and a 200 day moving average of $23.00. Pattern Energy Group has a 1-year low of $18.68 and a 1-year high of $26.50.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 annualized dividend and a yield of 6.49%. Pattern Energy Group’s dividend payout ratio (DPR) is 506.08%.

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In related news, insider Esben W. Pedersen sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $25.18, for a total value of $30,216.00. Following the sale, the insider now directly owns 149,411 shares of the company’s stock, valued at $3,762,168.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel M. Elkort sold 4,100 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $24.08, for a total value of $98,728.00. Following the completion of the sale, the vice president now directly owns 75,173 shares in the company, valued at $1,810,165.84. The disclosure for this sale can be found here. Insiders sold 9,200 shares of company stock worth $225,004 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in PEGI. BlackRock Inc. boosted its stake in shares of Pattern Energy Group by 5,997.7% during the first quarter. BlackRock Inc. now owns 5,027,184 shares of the utilities provider’s stock valued at $101,195,000 after purchasing an additional 4,944,740 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in shares of Pattern Energy Group by 887.8% during the first quarter. Brookfield Asset Management Inc. now owns 2,241,400 shares of the utilities provider’s stock valued at $45,119,000 after purchasing an additional 2,014,500 shares in the last quarter. Beach Investment Management LLC. boosted its stake in shares of Pattern Energy Group by 1,098.2% during the second quarter. Beach Investment Management LLC. now owns 1,974,586 shares of the utilities provider’s stock valued at $47,074,000 after purchasing an additional 1,809,792 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Pattern Energy Group by 21,212.6% during the second quarter. JPMorgan Chase & Co. now owns 784,517 shares of the utilities provider’s stock valued at $18,702,000 after purchasing an additional 780,836 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Pattern Energy Group by 71.7% during the second quarter. Lazard Asset Management LLC now owns 1,483,717 shares of the utilities provider’s stock valued at $35,371,000 after purchasing an additional 619,369 shares in the last quarter. 94.66% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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