Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) SVP Christopher M. Shugart sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the sale, the senior vice president now owns 64,584 shares in the company, valued at approximately $1,420,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NASDAQ PEGI opened at $21.91 on Friday. The stock has a market capitalization of $2.15 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. Pattern Energy Group Inc has a twelve month low of $16.78 and a twelve month high of $22.09. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.94.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings results on Friday, March 1st. The utilities provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.34). The business had revenue of $113.00 million during the quarter, compared to analyst estimates of $139.72 million. Pattern Energy Group had a return on equity of 6.45% and a net margin of 29.62%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) EPS. As a group, equities research analysts expect that Pattern Energy Group Inc will post 0.48 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.422 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 7.70%. Pattern Energy Group’s payout ratio is currently 116.55%.

Institutional investors have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Pattern Energy Group by 56.5% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 2,492 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 900 shares during the last quarter. Bremer Trust National Association acquired a new position in shares of Pattern Energy Group during the fourth quarter valued at approximately $51,000. Quantamental Technologies LLC acquired a new position in shares of Pattern Energy Group during the fourth quarter valued at approximately $78,000. Macquarie Group Ltd. raised its holdings in shares of Pattern Energy Group by 2,250.0% during the fourth quarter. Macquarie Group Ltd. now owns 4,700 shares of the utilities provider’s stock valued at $88,000 after acquiring an additional 4,500 shares during the last quarter. Finally, ETF Managers Group LLC raised its holdings in shares of Pattern Energy Group by 20.4% during the fourth quarter. ETF Managers Group LLC now owns 7,843 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 1,331 shares during the last quarter. 82.54% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on PEGI. Industrial Alliance Securities downgraded Pattern Energy Group to a “hold” rating in a research note on Monday, December 3rd. Zacks Investment Research cut Pattern Energy Group from a “hold” rating to a “sell” rating in a report on Monday, January 14th. BidaskClub cut Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 14th. ValuEngine raised Pattern Energy Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, Macquarie cut Pattern Energy Group from a “neutral” rating to an “underperform” rating in a report on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $22.00.

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Pattern Energy Group Company Profile

Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.

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