Research analysts at Williams Capital started coverage on shares of Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) in a research report issued to clients and investors on Monday. The firm set a “buy” rating and a $28.00 price target on the utilities provider’s stock. Williams Capital’s price target would indicate a potential upside of 14.15% from the company’s previous close.

Several other brokerages have also issued reports on PEGI. Desjardins boosted their price target on shares of Pattern Energy Group from $25.50 to $26.00 and gave the company a “buy” rating in a report on Tuesday, June 20th. BMO Capital Markets reissued a “buy” rating and issued a $28.00 price target on shares of Pattern Energy Group in a report on Wednesday, August 2nd. National Bank Financial boosted their price target on shares of Pattern Energy Group from $27.00 to $34.50 and gave the company an “outperform” rating in a report on Saturday, September 23rd. Zacks Investment Research lowered shares of Pattern Energy Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, BidaskClub raised shares of Pattern Energy Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $26.55.

Shares of Pattern Energy Group (NASDAQ:PEGI) opened at 24.53 on Monday. The stock’s 50 day moving average price is $25.18 and its 200 day moving average price is $23.62. Pattern Energy Group has a 1-year low of $18.68 and a 1-year high of $26.56. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 71.52 and a beta of 1.04.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. Pattern Energy Group had a net margin of 7.77% and a return on equity of 1.05%. The company had revenue of $107.76 million during the quarter, compared to analyst estimates of $124.02 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The firm’s revenue was up 15.4% on a year-over-year basis. Analysts expect that Pattern Energy Group will post $0.31 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another domain, it was stolen and republished in violation of US and international trademark & copyright law. The original version of this news story can be accessed at https://www.watchlistnews.com/williams-capital-initiates-coverage-on-pattern-energy-group-inc-pegi/1637605.html.

In related news, insider Esben W. Pedersen sold 2,400 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $23.99, for a total value of $57,576.00. Following the completion of the transaction, the insider now directly owns 145,811 shares of the company’s stock, valued at approximately $3,498,005.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Daniel M. Elkort sold 4,100 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 75,173 shares of the company’s stock, valued at $1,810,165.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,400 shares of company stock valued at $253,840. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PEGI. BlackRock Inc. boosted its stake 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 purchasing an additional 4,944,740 shares during the period. Brookfield Asset Management Inc. boosted its stake in Pattern Energy Group by 887.8% in the 1st quarter. Brookfield Asset Management Inc. now owns 2,241,400 shares of the utilities provider’s stock worth $45,119,000 after purchasing an additional 2,014,500 shares during the period. Beach Investment Management LLC. boosted its stake 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 purchasing an additional 1,809,792 shares during the period. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 780,836 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Pattern Energy Group by 71.7% during 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 last quarter. 95.35% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

Receive News & Ratings for Pattern Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pattern Energy Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.