Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) – Investment analysts at National Bank Financial reduced their FY2017 earnings per share (EPS) estimates for shares of Pattern Energy Group in a report released on Sunday. National Bank Financial analyst R. Merer now forecasts that the utilities provider will earn $0.12 per share for the year, down from their previous forecast of $0.18. National Bank Financial has a “Outperform” rating and a $34.50 price objective on the stock. National Bank Financial also issued estimates for Pattern Energy Group’s Q4 2017 earnings at $0.09 EPS.

PEGI has been the subject of a number of other research reports. Royal Bank Of Canada increased their target price on shares of Pattern Energy Group from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 20th. BMO Capital Markets reiterated a “buy” rating and set a $28.50 target price on shares of Pattern Energy Group in a research report on Friday, September 8th. Zacks Investment Research lowered shares of Pattern Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. BidaskClub upgraded shares of Pattern Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Finally, ValuEngine upgraded shares of Pattern Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $26.40.

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Shares of Pattern Energy Group (NASDAQ:PEGI) opened at 24.14 on Tuesday. Pattern Energy Group has a 52 week low of $18.68 and a 52 week high of $26.56. The firm has a 50-day moving average of $25.19 and a 200 day moving average of $23.39. The firm has a market cap of $2.12 billion, a PE ratio of 70.38 and a beta of 1.04.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. Pattern Energy Group had a net margin of 7.77% and a return on equity of 1.05%. The business had revenue of $107.76 million during the quarter, compared to analysts’ expectations of $124.02 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The business’s revenue was up 15.4% on a year-over-year basis.

Several hedge funds have recently added to or reduced their stakes in PEGI. Nationwide Fund Advisors boosted its position in shares of Pattern Energy Group by 4.6% in the first quarter. Nationwide Fund Advisors now owns 77,802 shares of the utilities provider’s stock valued at $1,566,000 after acquiring an additional 3,449 shares during the period. First Trust Advisors LP boosted its position in shares of Pattern Energy Group by 7.2% in the first quarter. First Trust Advisors LP now owns 105,016 shares of the utilities provider’s stock valued at $2,114,000 after acquiring an additional 7,042 shares during the period. US Bancorp DE boosted its position in shares of Pattern Energy Group by 24.4% in the first quarter. US Bancorp DE now owns 6,274 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,231 shares during the period. Swiss National Bank boosted its position in shares of Pattern Energy Group by 3.4% in the first quarter. Swiss National Bank now owns 115,449 shares of the utilities provider’s stock valued at $2,324,000 after acquiring an additional 3,800 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Pattern Energy Group by 139.1% in the first quarter. UBS Asset Management Americas Inc. now owns 38,967 shares of the utilities provider’s stock valued at $784,000 after acquiring an additional 22,667 shares during the period. Institutional investors own 95.36% of the company’s stock.

In other news, VP Daniel M. Elkort sold 4,100 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $24.08, for a total value of $98,728.00. Following the completion of the transaction, the vice president now directly owns 75,173 shares in the company, valued at $1,810,165.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Esben W. Pedersen sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $23.99, for a total transaction 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. Insiders sold 10,400 shares of company stock valued at $253,840 over the last 90 days. 1.60% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.42 dividend. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date is Thursday, September 28th. Pattern Energy Group’s dividend payout ratio (DPR) is 509.11%.

About Pattern Energy Group

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.

Earnings History and Estimates for Pattern Energy Group (NASDAQ:PEGI)

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