Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b-” rating in a report released on Thursday.

Several other research analysts also recently commented on PEGI. BidaskClub upgraded Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. ValuEngine downgraded Pattern Energy Group from a “sell” rating to a “strong sell” rating in a report on Thursday, May 3rd. Zacks Investment Research downgraded Pattern Energy Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Royal Bank of Canada decreased their price objective on Pattern Energy Group from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, June 19th. Finally, National Bank Financial decreased their price objective on Pattern Energy Group from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.38.

NASDAQ PEGI opened at $20.14 on Thursday. Pattern Energy Group has a twelve month low of $16.58 and a twelve month high of $26.56. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 106.00, a PEG ratio of 0.46 and a beta of 0.94.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.26. Pattern Energy Group had a return on equity of 6.91% and a net margin of 28.80%. The business had revenue of $136.00 million for the quarter, compared to the consensus estimate of $141.20 million. During the same quarter last year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. analysts predict that Pattern Energy Group will post 1.5 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new position in Pattern Energy Group during the 2nd quarter valued at about $124,000. BKS Advisors LLC purchased a new position in Pattern Energy Group during the 1st quarter valued at about $199,000. Oppenheimer & Co. Inc. purchased a new position in Pattern Energy Group during the 1st quarter valued at about $230,000. Atria Investments LLC increased its holdings in Pattern Energy Group by 33.3% during the 1st quarter. Atria Investments LLC now owns 13,878 shares of the utilities provider’s stock valued at $240,000 after purchasing an additional 3,469 shares during the period. Finally, Xact Kapitalforvaltning AB increased its holdings in Pattern Energy Group by 28.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 16,846 shares of the utilities provider’s stock valued at $316,000 after purchasing an additional 3,700 shares during the period. Institutional investors own 91.38% of the company’s stock.

About Pattern Energy Group

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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Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

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