Pattern Energy Group (PEGI) PT Lowered to $25.00 at National Bank Financial

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) had its price objective reduced by National Bank Financial from $26.00 to $25.00 in a research report sent to investors on Wednesday. They currently have an outperform rating on the utilities provider’s stock. National Bank Financial also issued estimates for Pattern Energy Group’s Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.15) EPS and FY2018 earnings at $0.18 EPS.

Several other research firms also recently commented on PEGI. Bank of America restated an underperform rating and set a $21.00 price objective on shares of Pattern Energy Group in a report on Tuesday, October 24th. BidaskClub downgraded Pattern Energy Group from a hold rating to a sell rating in a report on Saturday, January 13th. Zacks Investment Research downgraded Pattern Energy Group from a hold rating to a sell rating in a report on Wednesday, January 10th. Morgan Stanley downgraded Pattern Energy Group from an overweight rating to an equal weight rating and decreased their price objective for the company from $33.00 to $25.00 in a report on Tuesday, December 12th. Finally, BMO Capital Markets decreased their price objective on Pattern Energy Group from $28.50 to $28.00 and set an outperform rating for the company in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $24.79.

Shares of Pattern Energy Group (PEGI) opened at $19.28 on Wednesday. The firm has a market capitalization of $1,870.98, a P/E ratio of 482.12, a price-to-earnings-growth ratio of 3.26 and a beta of 0.88. Pattern Energy Group has a 1-year low of $18.15 and a 1-year high of $26.56. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.87.

In related news, insider Esben W. Pedersen sold 2,400 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $21.59, for a total transaction of $51,816.00. Following the completion of the sale, the insider now owns 134,528 shares in the company, valued at $2,904,459.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 7,200 shares of company stock valued at $155,112 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its holdings in Pattern Energy Group by 7.9% during the second quarter. Ameritas Investment Partners Inc. now owns 6,179 shares of the utilities provider’s stock worth $147,000 after buying an additional 451 shares in the last quarter. Advisor Group Inc. grew its holdings in Pattern Energy Group by 31.0% during the second quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after buying an additional 1,193 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in Pattern Energy Group by 16.4% during the third quarter. Campbell & CO Investment Adviser LLC now owns 18,153 shares of the utilities provider’s stock worth $437,000 after buying an additional 2,563 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Pattern Energy Group by 7.2% during the second quarter. UBS Asset Management Americas Inc. now owns 41,791 shares of the utilities provider’s stock worth $996,000 after buying an additional 2,824 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Pattern Energy Group by 2.0% during the second quarter. California Public Employees Retirement System now owns 156,300 shares of the utilities provider’s stock worth $3,726,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 76.86% of the company’s stock.

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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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