Pattern Energy Group Inc (PEGI) Shares Sold by First Mercantile Trust Co.
First Mercantile Trust Co. lessened its holdings in Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 15.1% during the 4th quarter, Holdings Channel reports. The fund owned 31,238 shares of the utilities provider’s stock after selling 5,541 shares during the period. First Mercantile Trust Co.’s holdings in Pattern Energy Group were worth $671,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in PEGI. Alliancebernstein L.P. grew its position in Pattern Energy Group by 7.6% in the 2nd quarter. Alliancebernstein L.P. now owns 95,340 shares of the utilities provider’s stock valued at $2,273,000 after acquiring an additional 6,700 shares during the last quarter. BlackRock Inc. grew its position in Pattern Energy Group by 2.6% in the 2nd quarter. BlackRock Inc. now owns 5,157,269 shares of the utilities provider’s stock valued at $122,951,000 after acquiring an additional 130,085 shares during the last quarter. Amalgamated Bank bought a new position in Pattern Energy Group in the 2nd quarter valued at $211,000. PNC Financial Services Group Inc. grew its position in Pattern Energy Group by 125.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 24,075 shares of the utilities provider’s stock valued at $573,000 after acquiring an additional 13,394 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Pattern Energy Group by 19.6% during the 2nd quarter. New York State Common Retirement Fund now owns 83,338 shares of the utilities provider’s stock worth $1,987,000 after buying an additional 13,637 shares in the last quarter. 75.68% of the stock is currently owned by institutional investors.
In related news, insider Esben W. Pedersen sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $21.59, for a total transaction of $51,816.00. Following the sale, the insider now owns 134,528 shares of the company’s stock, valued at $2,904,459.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 7,200 shares of company stock worth $155,112. 1.60% of the stock is owned by corporate insiders.
Pattern Energy Group Inc (NASDAQ PEGI) opened at $18.41 on Friday. Pattern Energy Group Inc has a 12-month low of $18.40 and a 12-month high of $26.56. The stock has a market capitalization of $1,831.82, a price-to-earnings ratio of 1,871.00, a PEG ratio of 3.26 and a beta of 0.88. 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 (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings data on Thursday, November 9th. The utilities provider reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Pattern Energy Group had a net margin of 1.01% and a return on equity of 0.06%. research analysts forecast that Pattern Energy Group Inc will post 0.11 earnings per share for the current fiscal year.
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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