Federated Investors Inc. PA grew its position in Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 544,887.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,545 shares of the utilities provider’s stock after purchasing an additional 212,506 shares during the quarter. Federated Investors Inc. PA’s holdings in Pattern Energy Group were worth $4,676,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Swiss National Bank lifted its stake in shares of Pattern Energy Group by 3.1% in the 1st quarter. Swiss National Bank now owns 151,949 shares of the utilities provider’s stock valued at $3,343,000 after acquiring an additional 4,500 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of Pattern Energy Group by 36.1% in the 1st quarter. Intact Investment Management Inc. now owns 1,739,904 shares of the utilities provider’s stock valued at $50,701,000 after acquiring an additional 461,400 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Pattern Energy Group by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,078,116 shares of the utilities provider’s stock valued at $45,718,000 after acquiring an additional 52,021 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Pattern Energy Group by 8.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 25,242 shares of the utilities provider’s stock valued at $555,000 after acquiring an additional 1,932 shares during the last quarter. Finally, Bremer Bank National Association bought a new position in shares of Pattern Energy Group in the 1st quarter valued at $63,000. 81.80% of the stock is currently owned by institutional investors.

A number of brokerages have recently commented on PEGI. BidaskClub upgraded Pattern Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Raymond James reiterated an “outperform” rating and issued a $23.50 price target on shares of Pattern Energy Group in a research note on Monday, May 13th. ValuEngine upgraded Pattern Energy Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Finally, TheStreet cut Pattern Energy Group from a “b-” rating to a “c” rating in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.00.

Shares of NASDAQ:PEGI opened at $22.88 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01. Pattern Energy Group Inc has a 12-month low of $16.81 and a 12-month high of $23.51.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its earnings results on Friday, May 10th. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.43). The company had revenue of $135.00 million for the quarter, compared to the consensus estimate of $143.38 million. Pattern Energy Group had a negative return on equity of 1.06% and a negative net margin of 4.52%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 earnings per share. On average, analysts expect that Pattern Energy Group Inc will post 0.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.422 per share. This represents a $1.69 annualized dividend and a yield of 7.38%. The ex-dividend date is Thursday, June 27th. Pattern Energy Group’s dividend payout ratio is currently 116.55%.

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About Pattern Energy Group

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

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