CI Investments Inc. cut its position in shares of Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,864,100 shares of the utilities provider’s stock after selling 2,700 shares during the quarter. CI Investments Inc. owned about 2.99% of Pattern Energy Group worth $69,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in 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 worth $139,961,000 after acquiring an additional 38,599 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in 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 worth $1,987,000 after acquiring an additional 13,637 shares in the last quarter. California Public Employees Retirement System boosted its holdings in 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 worth $3,086,000 after acquiring an additional 3,500 shares in the last quarter. Advisor Group Inc. boosted its holdings in Pattern Energy Group by 31.0% in the second quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Brookfield Asset Management Inc. boosted its holdings in 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 worth $58,787,000 after acquiring an additional 224,508 shares in the last quarter. Institutional investors own 86.11% of the company’s stock.

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In related news, insider Esben W. Pedersen sold 1,200 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $25.10, for a total transaction of $30,120.00. Following the completion of the sale, the insider now owns 148,211 shares in the company, valued at $3,720,096.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Esben W. Pedersen sold 2,400 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.01, for a total value of $55,224.00. Following the sale, the insider now owns 143,411 shares of the company’s stock, valued at approximately $3,299,887.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,500 shares of company stock worth $179,075. Corporate insiders own 1.60% of the company’s stock.

Several research firms have commented on PEGI. Raymond James Financial, Inc. dropped their target price on Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday. BidaskClub downgraded Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Wells Fargo & Company dropped their target price on Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday. BMO Capital Markets dropped their target price on Pattern Energy Group from $28.50 to $28.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Bank of America Corporation dropped their target price on Pattern Energy Group from $21.00 to $19.00 and set an “underperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $25.65.

Shares of Pattern Energy Group Inc. (NASDAQ:PEGI) traded down $0.66 during trading hours on Monday, hitting $20.91. The stock had a trading volume of 1,450,400 shares, compared to its average volume of 782,355. The company has a market capitalization of $1,999.77, a P/E ratio of 2,091.00, a P/E/G ratio of 6.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.51 and a current ratio of 0.51. Pattern Energy Group Inc. has a 1 year low of $18.68 and a 1 year high of $26.56.

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

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.

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

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