Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) had its price target reduced by BMO Capital Markets from $28.50 to $28.00 in a report released on Friday. They currently have an outperform rating on the utilities provider’s stock.

Several other brokerages have also commented on PEGI. Bank of America Corporation reaffirmed an underperform rating and issued a $21.00 price objective on shares of Pattern Energy Group in a report on Tuesday, October 24th. National Bank Financial lifted their price objective on Pattern Energy Group from $27.00 to $34.50 and gave the stock an outperform rating in a report on Saturday, September 23rd. Zacks Investment Research lowered Pattern Energy Group from a buy rating to a hold rating in a report on Tuesday, August 8th. BidaskClub raised Pattern Energy Group from a buy rating to a strong-buy rating in a report on Thursday, August 17th. Finally, ValuEngine raised Pattern Energy Group from a sell rating to a hold rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $25.65.

Shares of Pattern Energy Group (NASDAQ PEGI) traded down $0.66 on Friday, hitting $20.91. The company had a trading volume of 1,450,400 shares, compared to its average volume of 1,290,805. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.87. Pattern Energy Group has a one year low of $18.68 and a one year high of $26.56. The company has a market capitalization of $1,999.77, a price-to-earnings ratio of 2,091.00, a P/E/G ratio of 6.92 and a beta of 1.02.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a $0.422 dividend. This represents a $1.69 annualized dividend and a dividend yield of 8.07%. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, December 28th. Pattern Energy Group’s payout ratio is presently 4,201.05%.

In other news, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $23.99, for a total value of $57,576.00. Following the transaction, the insider now directly owns 145,811 shares in the company, valued at $3,498,005.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $25.10, for a total value of $30,120.00. Following the completion of the transaction, the insider now owns 148,211 shares in the company, valued at $3,720,096.10. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $179,075 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Pattern Energy Group by 0.7% in the second quarter. Vanguard Group Inc. now owns 5,870,834 shares of the utilities provider’s stock valued at $139,961,000 after acquiring an additional 38,599 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Pattern Energy Group by 19.6% in the second quarter. New York State Common Retirement Fund now owns 83,338 shares of the utilities provider’s stock valued at $1,987,000 after acquiring an additional 13,637 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Pattern Energy Group by 2.3% in the first quarter. California Public Employees Retirement System now owns 153,300 shares of the utilities provider’s stock valued at $3,086,000 after acquiring an additional 3,500 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Pattern Energy Group by 31.0% in the second quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock valued at $121,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Brookfield Asset Management Inc. lifted its position in shares of Pattern Energy Group by 10.0% in the second quarter. Brookfield Asset Management Inc. now owns 2,465,908 shares of the utilities provider’s stock valued at $58,787,000 after acquiring an additional 224,508 shares in the last quarter. Institutional investors and hedge funds own 86.11% 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.

Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

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