Swiss National Bank maintained its position in Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,449 shares of the utilities provider’s stock at the end of the second quarter. Swiss National Bank owned about 0.13% of Pattern Energy Group worth $2,752,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Pattern Energy Group by 5.8% in the first quarter. Vanguard Group Inc. now owns 5,832,235 shares of the utilities provider’s stock worth $117,403,000 after acquiring an additional 321,163 shares during the period. BlackRock Inc. boosted its holdings in shares of Pattern Energy Group by 5,997.7% in the first quarter. BlackRock Inc. now owns 5,027,184 shares of the utilities provider’s stock worth $101,195,000 after acquiring an additional 4,944,740 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Pattern Energy Group by 13.5% in the first quarter. Wellington Management Group LLP now owns 2,475,915 shares of the utilities provider’s stock worth $49,841,000 after acquiring an additional 293,671 shares during the period. FMR LLC boosted its holdings in shares of Pattern Energy Group by 6.8% in the first quarter. FMR LLC now owns 2,442,853 shares of the utilities provider’s stock worth $49,175,000 after acquiring an additional 155,900 shares during the period. Finally, Brookfield Asset Management Inc. boosted its holdings in shares of Pattern Energy Group by 887.8% in the first quarter. Brookfield Asset Management Inc. now owns 2,241,400 shares of the utilities provider’s stock worth $45,119,000 after acquiring an additional 2,014,500 shares during the period. 94.66% of the stock is owned by hedge funds and other institutional investors.

Shares of Pattern Energy Group Inc. (NASDAQ PEGI) opened at 24.10 on Friday. Pattern Energy Group Inc. has a 1-year low of $18.68 and a 1-year high of $26.56. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 70.26 and a beta of 1.05. The company’s 50-day moving average price is $24.94 and its 200 day moving average price is $23.00.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued 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. The company had revenue of $107.76 million during the quarter, compared to the consensus estimate of $124.02 million. Pattern Energy Group had a net margin of 7.77% and a return on equity of 1.05%. Pattern Energy Group’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, analysts predict that Pattern Energy Group Inc. will post $0.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.97%. The ex-dividend date is Thursday, September 28th. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. Pattern Energy Group’s dividend payout ratio is 509.11%.

A number of equities analysts have recently commented on PEGI shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $24.00 price target on shares of Pattern Energy Group in a report on Friday, June 9th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $24.00 price target (up from $23.00) on shares of Pattern Energy Group in a report on Tuesday, June 20th. Desjardins raised their price target on Pattern Energy Group from $25.50 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Raymond James Financial, Inc. lifted their price objective on Pattern Energy Group from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised Pattern Energy Group from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, June 28th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Pattern Energy Group presently has a consensus rating of “Buy” and a consensus target price of $26.40.

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In other Pattern Energy Group news, VP Daniel M. Elkort sold 4,100 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $24.08, for a total transaction of $98,728.00. Following the completion of the transaction, the vice president now owns 75,173 shares of the company’s stock, valued at approximately $1,810,165.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Esben W. Pedersen sold 1,200 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $24.00, for a total transaction of $28,800.00. Following the transaction, the insider now directly owns 150,611 shares of the company’s stock, valued at approximately $3,614,664. The disclosure for this sale can be found here. Insiders have sold a total of 9,200 shares of company stock valued at $225,004 in the last three months. Insiders own 1.60% of the company’s stock.

Pattern Energy Group 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.

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

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