Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) was the target of some unusual options trading on Wednesday. Stock traders bought 1,019 call options on the company. This represents an increase of approximately 1,377% compared to the average volume of 69 call options.

Pattern Energy Group stock opened at $18.20 on Thursday. Pattern Energy Group has a 12 month low of $16.58 and a 12 month high of $26.56. The firm has a market capitalization of $1,787.02, a P/E ratio of 260.86, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.80.

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Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its earnings results on Thursday, March 1st. The utilities provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. Pattern Energy Group had a positive return on equity of 0.34% and a negative net margin of 4.35%. The company had revenue of $110.70 million for the quarter, compared to the consensus estimate of $126.11 million. During the same period last year, the business posted $0.16 EPS. The company’s revenue was up 36.5% on a year-over-year basis. equities research analysts predict that Pattern Energy Group will post 0.39 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, March 30th will be paid a $0.422 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.69 annualized dividend and a dividend yield of 9.27%. Pattern Energy Group’s dividend payout ratio (DPR) is currently -844.96%.

In related news, insider Esben W. Pedersen sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $20.51, for a total transaction of $49,224.00. Following the transaction, the insider now owns 132,128 shares in the company, valued at approximately $2,709,945.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas G. Hall purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were purchased at an average price of $17.08 per share, for a total transaction of $85,400.00. Following the purchase, the director now directly owns 39,982 shares in the company, valued at $682,892.56. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC grew its stake in shares of Pattern Energy Group by 16.4% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 18,153 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 2,563 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Pattern Energy Group by 139.6% in the 4th quarter. IFP Advisors Inc now owns 5,337 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 3,110 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Pattern Energy Group by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 204,923 shares of the utilities provider’s stock valued at $4,404,000 after purchasing an additional 3,173 shares during the last quarter. American International Group Inc. grew its stake in shares of Pattern Energy Group by 8.1% in the 3rd quarter. American International Group Inc. now owns 47,199 shares of the utilities provider’s stock valued at $1,137,000 after purchasing an additional 3,529 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Pattern Energy Group by 15.8% in the 3rd quarter. Legal & General Group Plc now owns 29,125 shares of the utilities provider’s stock valued at $706,000 after purchasing an additional 3,974 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

A number of research analysts recently issued reports on PEGI shares. Goldman Sachs upgraded Pattern Energy Group from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, December 5th. Morgan Stanley downgraded Pattern Energy Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $33.00 to $25.00 in a research note on Tuesday, December 12th. Zacks Investment Research downgraded Pattern Energy Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. BidaskClub downgraded Pattern Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Finally, ValuEngine downgraded Pattern Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.25.

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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.

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