Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) was the recipient of some unusual options trading activity on Friday. Traders acquired 422 put options on the stock. This is an increase of 374% compared to the average daily volume of 89 put options.

A number of equities research analysts recently issued reports on the stock. National Bank Financial lifted their price target on shares of Pattern Energy Group from $27.00 to $34.50 and gave the company an “outperform” rating in a research note on Saturday, September 23rd. Zacks Investment Research cut shares of Pattern Energy Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. BMO Capital Markets reissued a “buy” rating and issued a $28.50 price target on shares of Pattern Energy Group in a research note on Friday, September 8th. ValuEngine raised shares of Pattern Energy Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Williams Capital assumed coverage on shares of Pattern Energy Group in a research note on Monday, October 16th. They issued a “buy” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $25.65.

Shares of Pattern Energy Group (PEGI) opened at $22.01 on Monday. Pattern Energy Group has a one year low of $18.68 and a one year high of $26.56. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.87. The stock has a market cap of $2,154.91, a price-to-earnings ratio of 2,201.00, a price-to-earnings-growth ratio of 9.78 and a beta of 1.02.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a dividend of $0.422 per share. This represents a $1.69 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Pattern Energy Group’s previous quarterly dividend of $0.42. Pattern Energy Group’s payout ratio is 4,201.05%.

In related news, insider Esben W. Pedersen sold 2,400 shares of Pattern Energy Group stock in a transaction 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 sale, the insider now owns 143,411 shares of the company’s stock, valued at approximately $3,299,887.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Esben W. Pedersen sold 1,200 shares of Pattern Energy Group stock in a transaction on Friday, September 1st. The shares were sold at an average price of $25.10, for a total transaction of $30,120.00. Following the completion of the sale, the insider now directly owns 148,211 shares in the company, valued at approximately $3,720,096.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,500 shares of company stock valued at $179,075. Insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Pattern Energy Group by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,870,834 shares of the utilities provider’s stock worth $139,961,000 after purchasing an additional 38,599 shares during the last quarter. New York State Common Retirement Fund boosted its stake in 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 purchasing an additional 13,637 shares during the last quarter. Advisor Group Inc. boosted its stake in Pattern Energy Group by 31.0% during the 2nd quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 1,193 shares during the last quarter. Brookfield Asset Management Inc. boosted its stake in Pattern Energy Group by 10.0% during the 2nd quarter. Brookfield Asset Management Inc. now owns 2,465,908 shares of the utilities provider’s stock worth $58,787,000 after purchasing an additional 224,508 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Pattern Energy Group by 78.2% during the 2nd quarter. Principal Financial Group Inc. now owns 58,527 shares of the utilities provider’s stock worth $1,395,000 after purchasing an additional 25,684 shares during the last quarter. 77.38% of the stock is currently owned by institutional investors.

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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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