Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Several other equities analysts have also recently weighed in on the stock. ValuEngine raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Raymond James raised their target price on shares of Pattern Energy Group from $22.50 to $23.50 and gave the company an “outperform” rating in a research note on Monday, March 4th. Macquarie cut shares of Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research note on Monday, February 4th. BMO Capital Markets cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research note on Friday, February 1st. Finally, Zacks Investment Research cut shares of Pattern Energy Group from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Pattern Energy Group currently has an average rating of “Hold” and a consensus price target of $22.00.

Shares of NASDAQ PEGI opened at $21.87 on Wednesday. The firm has a market capitalization of $2.16 billion, a PE ratio of 15.08, a PEG ratio of 3.03 and a beta of 1.04. Pattern Energy Group has a 1 year low of $16.78 and a 1 year high of $22.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.44 and a quick ratio of 0.44.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last posted its earnings results on Friday, March 1st. The utilities provider reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.34). The company had revenue of $113.00 million for the quarter, compared to analysts’ expectations of $139.72 million. Pattern Energy Group had a net margin of 29.62% and a return on equity of 6.45%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share. As a group, research analysts predict that Pattern Energy Group will post 0.27 earnings per share for the current fiscal year.

In other Pattern Energy Group news, SVP Kevin E. Devlin sold 2,943 shares of Pattern Energy Group stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $21.13, for a total value of $62,185.59. Following the completion of the transaction, the senior vice president now directly owns 22,080 shares of the company’s stock, valued at approximately $466,550.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Esben W. Pedersen sold 1,200 shares of Pattern Energy Group stock in a transaction on Friday, February 1st. The stock was sold at an average price of $21.12, for a total transaction of $25,344.00. The disclosure for this sale can be found here. Insiders sold a total of 12,543 shares of company stock valued at $267,842 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Pattern Energy Group by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,397,976 shares of the utilities provider’s stock worth $166,869,000 after buying an additional 460,066 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Pattern Energy Group by 53.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 55,343 shares of the utilities provider’s stock worth $1,100,000 after buying an additional 19,394 shares in the last quarter. Trexquant Investment LP grew its stake in shares of Pattern Energy Group by 221.4% in the 3rd quarter. Trexquant Investment LP now owns 88,393 shares of the utilities provider’s stock worth $1,756,000 after buying an additional 60,888 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Pattern Energy Group by 2.3% in the 3rd quarter. Baird Financial Group Inc. now owns 156,600 shares of the utilities provider’s stock worth $3,082,000 after buying an additional 3,556 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Pattern Energy Group by 0.4% in the 3rd quarter. Teachers Advisors LLC now owns 943,852 shares of the utilities provider’s stock worth $18,754,000 after buying an additional 3,830 shares in the last quarter. 83.73% of the stock is owned by institutional investors and hedge funds.

Pattern Energy Group Company Profile

Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.

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Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

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