Wall Street brokerages expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to post earnings per share (EPS) of $0.07 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pattern Energy Group’s earnings. The lowest EPS estimate is ($0.05) and the highest is $0.19. Pattern Energy Group posted earnings per share of $0.11 in the same quarter last year, which indicates a negative year over year growth rate of 36.4%. The business is expected to report its next earnings results on Thursday, March 7th.

According to Zacks, analysts expect that Pattern Energy Group will report full-year earnings of $1.57 per share for the current year, with EPS estimates ranging from $1.21 to $2.01. For the next financial year, analysts expect that the company will report earnings of $0.46 per share, with EPS estimates ranging from ($0.05) to $1.00. Zacks Investment Research’s earnings per share 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 Monday, November 5th. The utilities provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.09). Pattern Energy Group had a return on equity of 7.35% and a net margin of 30.81%. The business had revenue of $118.39 million for the quarter, compared to analyst estimates of $117.22 million. During the same period last year, the business posted ($0.34) EPS. Pattern Energy Group’s revenue was up 28.6% on a year-over-year basis.

Several research analysts have commented on PEGI shares. TheStreet raised Pattern Energy Group from a “c+” rating to a “b-” rating in a research report on Thursday, August 23rd. Zacks Investment Research raised Pattern Energy Group from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, October 10th. BidaskClub raised Pattern Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 23rd. National Bank Financial cut their price target on Pattern Energy Group from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, July 27th. Finally, ValuEngine raised Pattern Energy Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.42.

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Pattern Energy Group by 7.5% in the 2nd quarter. BlackRock Inc. now owns 6,600,386 shares of the utilities provider’s stock valued at $123,757,000 after purchasing an additional 463,092 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Pattern Energy Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,912,257 shares of the utilities provider’s stock valued at $35,854,000 after purchasing an additional 23,235 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Pattern Energy Group by 116.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 5,677 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 3,049 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Pattern Energy Group by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 80,277 shares of the utilities provider’s stock valued at $1,505,000 after purchasing an additional 4,165 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Pattern Energy Group in the 2nd quarter valued at approximately $516,000. Institutional investors own 90.18% of the company’s stock.

PEGI traded down $0.04 during trading on Monday, hitting $20.55. 1,023,879 shares of the stock were exchanged, compared to its average volume of 1,270,964. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 0.45 and a beta of 1.07. Pattern Energy Group has a 1-year low of $16.58 and a 1-year high of $22.79. The company has a quick ratio of 0.91, a current ratio of 0.54 and a debt-to-equity ratio of 0.97.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be paid a $0.422 dividend. The ex-dividend date is Friday, December 28th. This represents a $1.69 annualized dividend and a dividend yield of 8.21%. Pattern Energy Group’s dividend payout ratio (DPR) is currently 889.47%.

About Pattern Energy Group

Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.

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