Cipher Capital LP purchased a new position in shares of Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,514 shares of the utilities provider’s stock, valued at approximately $759,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Pattern Energy Group by 120.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,258 shares of the utilities provider’s stock worth $633,000 after purchasing an additional 14,324 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Pattern Energy Group by 38.5% during the 3rd quarter. Sei Investments Co. now owns 128,425 shares of the utilities provider’s stock worth $3,095,000 after purchasing an additional 35,683 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its stake in shares of Pattern Energy Group by 5.6% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 486,114 shares of the utilities provider’s stock worth $11,715,000 after purchasing an additional 25,867 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Pattern Energy Group by 10.4% during the 3rd quarter. Principal Financial Group Inc. now owns 64,597 shares of the utilities provider’s stock worth $1,557,000 after purchasing an additional 6,070 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Pattern Energy Group by 11.0% during the 3rd quarter. American Century Companies Inc. now owns 264,083 shares of the utilities provider’s stock worth $6,364,000 after purchasing an additional 26,217 shares during the last quarter. 77.38% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Esben W. Pedersen sold 1,200 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was 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 directly owns 148,211 shares in the company, valued at $3,720,096.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Esben W. Pedersen sold 2,400 shares of the firm’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 completion of the transaction, the insider now owns 145,811 shares of the company’s stock, valued at $3,498,005.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $179,075. Company insiders own 1.60% of the company’s stock.

A number of brokerages recently weighed in on PEGI. National Bank Financial upped their price objective on Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a research note on Saturday, September 23rd. Zacks Investment Research cut Pattern Energy Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. BMO Capital Markets restated a “buy” rating and set a $28.50 price objective on shares of Pattern Energy Group in a research note on Friday, September 8th. ValuEngine upgraded Pattern Energy Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Williams Capital began coverage on Pattern Energy Group in a research note on Monday, October 16th. They issued a “buy” rating and a $28.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $25.65.

Shares of Pattern Energy Group Inc. (PEGI) opened at $22.01 on Friday. 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 Inc. has a 12 month low of $18.68 and a 12 month high of $26.56. The company has a market capitalization of $2,154.91, a PE ratio of 2,201.00, a price-to-earnings-growth ratio of 9.78 and a beta of 1.02.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a $0.422 dividend. This represents a $1.69 annualized dividend and a dividend yield of 7.67%. This is a boost from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, December 28th. Pattern Energy Group’s dividend payout ratio (DPR) is presently 4,201.05%.

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Pattern Energy Group Company 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.

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

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