Pattern Energy Group Inc (NASDAQ:PEGI) Insider Esben W. Pedersen Sells 2,400 Shares

Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) insider Esben W. Pedersen sold 2,400 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.51, for a total value of $49,224.00. Following the sale, the insider now owns 132,128 shares of the company’s stock, valued at $2,709,945.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pattern Energy Group Inc (NASDAQ:PEGI) traded up $0.33 during trading hours on Friday, reaching $18.74. The company’s stock had a trading volume of 966,843 shares, compared to its average volume of 863,534. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.87. Pattern Energy Group Inc has a 52 week low of $18.20 and a 52 week high of $26.56. The company has a market cap of $1,834.76, a P/E ratio of 468.62, a PEG ratio of 3.26 and a beta of 0.88.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its earnings results on Thursday, November 9th. The utilities provider reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Pattern Energy Group had a return on equity of 0.06% and a net margin of 1.01%. The firm had revenue of $92.03 million for the quarter, compared to the consensus estimate of $112.38 million. analysts anticipate that Pattern Energy Group Inc will post 0.11 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Pattern Energy Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 target price on shares of Pattern Energy Group in a research note on Tuesday, February 6th. National Bank Financial lowered their target price on Pattern Energy Group from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday. BidaskClub lowered Pattern Energy Group from a “sell” rating to a “strong sell” rating in a research note on Friday. Finally, Raymond James Financial lowered their target price on Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 13th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $24.86.

A number of large investors have recently added to or reduced their stakes in PEGI. BlackRock Inc. lifted its holdings in Pattern Energy Group by 14.5% during the 4th quarter. BlackRock Inc. now owns 6,043,227 shares of the utilities provider’s stock worth $129,870,000 after buying an additional 766,256 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in Pattern Energy Group by 25.5% during the 3rd quarter. Cohen & Steers Inc. now owns 2,415,931 shares of the utilities provider’s stock worth $58,224,000 after buying an additional 490,987 shares during the last quarter. CI Investments Inc. lifted its holdings in Pattern Energy Group by 15.9% during the 4th quarter. CI Investments Inc. now owns 3,320,400 shares of the utilities provider’s stock worth $71,355,000 after buying an additional 456,300 shares during the last quarter. Advisors Capital Management LLC acquired a new stake in shares of Pattern Energy Group during the 4th quarter worth approximately $7,621,000. Finally, Ecofin Ltd. raised its position in shares of Pattern Energy Group by 42.0% during the 4th quarter. Ecofin Ltd. now owns 967,898 shares of the utilities provider’s stock worth $20,800,000 after purchasing an additional 286,288 shares during the period. 75.68% of the stock is currently owned by institutional investors.

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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.

Insider Buying and Selling by Quarter for Pattern Energy Group (NASDAQ:PEGI)

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