Several other research firms also recently weighed in on PEGI. National Bank Financial lifted their target price on Pattern Energy Group from $27.00 to $34.50 and gave the stock an outperform rating in a research report on Saturday, September 23rd. Zacks Investment Research downgraded Pattern Energy Group from a buy rating to a hold rating in a research report on Wednesday, September 27th. BMO Capital Markets reiterated a buy rating and set a $28.50 target price on shares of Pattern Energy Group in a research report on Friday, September 8th. Williams Capital began coverage on Pattern Energy Group in a research report on Monday, October 16th. They set a buy rating and a $28.00 target price for the company. Finally, BidaskClub upgraded Pattern Energy Group from a buy rating to a strong-buy rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $25.65.
Pattern Energy Group (NASDAQ:PEGI) traded up $0.03 during trading hours on Tuesday, hitting $21.14. The stock had a trading volume of 1,054,300 shares, compared to its average volume of 795,211. Pattern Energy Group has a fifty-two week low of $18.68 and a fifty-two week high of $26.56. The company has a market capitalization of $2,066.80, a P/E ratio of 2,111.00, a price-to-earnings-growth ratio of 9.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.51 and a current ratio of 0.51.
In other news, insider Esben W. Pedersen sold 2,400 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $23.99, for a total transaction of $57,576.00. Following the transaction, the insider now owns 145,811 shares in the company, valued at $3,498,005.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 8,200 shares of company stock worth $190,477. Insiders own 1.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in PEGI. Teachers Advisors LLC increased its stake in shares of Pattern Energy Group by 1.8% during the first quarter. Teachers Advisors LLC now owns 126,944 shares of the utilities provider’s stock valued at $2,555,000 after buying an additional 2,300 shares during the period. Bank of Montreal Can increased its stake in shares of Pattern Energy Group by 25.1% during the second quarter. Bank of Montreal Can now owns 30,921 shares of the utilities provider’s stock valued at $737,000 after buying an additional 6,196 shares during the period. Aperio Group LLC increased its stake in shares of Pattern Energy Group by 15.4% during the second quarter. Aperio Group LLC now owns 80,213 shares of the utilities provider’s stock valued at $1,912,000 after buying an additional 10,700 shares during the period. US Bancorp DE increased its stake in shares of Pattern Energy Group by 34.8% during the second quarter. US Bancorp DE now owns 8,456 shares of the utilities provider’s stock valued at $202,000 after buying an additional 2,182 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Pattern Energy Group by 7.6% during the second quarter. Sei Investments Co. now owns 92,742 shares of the utilities provider’s stock valued at $2,210,000 after buying an additional 6,511 shares during the period. Hedge funds and other institutional investors own 75.45% of the company’s stock.
WARNING: This story was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://stocknewstimes.com/2017/12/06/pattern-energy-group-pegi-upgraded-by-goldman-sachs-group-to-buy.html.
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.
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 MarketBeat.com's FREE daily email newsletter.