Global X MANAGEMENT CO LLC grew its stake in shares of Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,114 shares of the utilities provider’s stock after acquiring an additional 25,867 shares during the quarter. Global X MANAGEMENT CO LLC owned about 0.51% of Pattern Energy Group worth $11,715,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PEGI. BlackRock Inc. increased its holdings in Pattern Energy Group by 5,997.7% in the 1st quarter. BlackRock Inc. now owns 5,027,184 shares of the utilities provider’s stock worth $101,195,000 after buying an additional 4,944,740 shares during the period. Beach Investment Management LLC. increased its holdings in Pattern Energy Group by 1,098.2% in the 2nd quarter. Beach Investment Management LLC. now owns 1,974,586 shares of the utilities provider’s stock worth $47,074,000 after buying an additional 1,809,792 shares during the period. JPMorgan Chase & Co. increased its holdings in Pattern Energy Group by 21,212.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 784,517 shares of the utilities provider’s stock worth $18,702,000 after buying an additional 780,836 shares during the period. Lazard Asset Management LLC increased its holdings in Pattern Energy Group by 71.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,483,717 shares of the utilities provider’s stock worth $35,371,000 after buying an additional 619,369 shares during the period. Finally, Teachers Advisors LLC increased its holdings in Pattern Energy Group by 432.8% in the 2nd quarter. Teachers Advisors LLC now owns 676,343 shares of the utilities provider’s stock worth $16,124,000 after buying an additional 549,399 shares during the period. Institutional investors own 86.25% of the company’s stock.

PEGI has been the topic of several research reports. ValuEngine upgraded shares of Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BMO Capital Markets reiterated a “buy” rating and issued a $28.00 price target on shares of Pattern Energy Group in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Pattern Energy Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Finally, National Bank Financial increased their price target on shares of Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a report on Saturday, September 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $25.81.

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In other news, VP Daniel M. Elkort sold 4,100 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $24.08, for a total transaction of $98,728.00. Following the transaction, the vice president now owns 75,173 shares in the company, valued at approximately $1,810,165.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Esben W. Pedersen sold 2,400 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 143,411 shares in the company, valued at approximately $3,299,887.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,600 shares of company stock worth $277,803. Insiders own 1.60% of the company’s stock.

Pattern Energy Group Inc. (NASDAQ PEGI) traded down $0.66 during trading on Friday, reaching $20.91. The company’s stock had a trading volume of 1,435,134 shares, compared to its average volume of 1,250,127. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.80. Pattern Energy Group Inc. has a 1-year low of $18.68 and a 1-year high of $26.56. The stock has a market cap of $2,062.89, a price-to-earnings ratio of 2,157.00, a PEG ratio of 7.14 and a beta of 1.02.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. Pattern Energy Group had a return on equity of 0.06% and a net margin of 1.01%. The business had revenue of $107.76 million for the quarter, compared to analyst estimates of $124.02 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. sell-side analysts forecast that Pattern Energy Group Inc. will post 0.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a $0.422 dividend. This represents a $1.69 annualized dividend and a yield of 8.07%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. Pattern Energy Group’s dividend payout ratio is currently 4,201.05%.

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.

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

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