Pattern Energy Group Inc (PEGI) Shares Bought by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. raised its stake in Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 15.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 53,086 shares of the utilities provider’s stock after buying an additional 7,162 shares during the period. UBS Asset Management Americas Inc.’s holdings in Pattern Energy Group were worth $1,141,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its position in Pattern Energy Group by 14.5% in the fourth quarter. BlackRock Inc. now owns 6,043,227 shares of the utilities provider’s stock valued at $129,870,000 after buying an additional 766,256 shares in the last quarter. Global X Management Co. LLC boosted its position in Pattern Energy Group by 1.7% in the fourth quarter. Global X Management Co. LLC now owns 494,480 shares of the utilities provider’s stock valued at $10,626,000 after buying an additional 8,366 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Pattern Energy Group by 413.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 337,879 shares of the utilities provider’s stock valued at $7,261,000 after buying an additional 272,116 shares in the last quarter. Advisory Research Inc. boosted its position in Pattern Energy Group by 1.2% in the fourth quarter. Advisory Research Inc. now owns 499,063 shares of the utilities provider’s stock valued at $10,725,000 after buying an additional 6,100 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Pattern Energy Group by 39.6% in the fourth quarter. Sei Investments Co. now owns 179,253 shares of the utilities provider’s stock valued at $3,852,000 after buying an additional 50,828 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

In related news, insider Esben W. Pedersen sold 2,400 shares of Pattern Energy Group stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $20.51, for a total transaction of $49,224.00. Following the completion of the transaction, the insider now owns 132,128 shares of the company’s stock, valued at $2,709,945.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas G. Hall bought 5,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were purchased at an average cost of $17.08 per share, with a total value of $85,400.00. Following the purchase, the director now directly owns 39,982 shares of the company’s stock, valued at $682,892.56. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.

A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday. BMO Capital Markets cut their target price on shares of Pattern Energy Group from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, March 2nd. BidaskClub lowered shares of Pattern Energy Group from a “sell” rating to a “strong sell” rating in a research report on Friday, February 9th. Williams Capital lowered shares of Pattern Energy Group from a “buy” rating to a “hold” rating and cut their target price for the company from $28.00 to $19.00 in a research report on Friday, March 2nd. Finally, UBS lowered shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research report on Friday, March 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.25.

PEGI stock opened at $17.97 on Friday. The stock has a market cap of $1,776.25, a price-to-earnings ratio of 259.29, a PEG ratio of 2.05 and a beta of 0.96. Pattern Energy Group Inc has a 52 week low of $16.58 and a 52 week high of $26.56. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.25 and a current ratio of 1.25.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.06. The firm had revenue of $110.70 million during the quarter, compared to the consensus estimate of $126.11 million. Pattern Energy Group had a negative net margin of 4.35% and a positive return on equity of 0.34%. The company’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. sell-side analysts forecast that Pattern Energy Group Inc will post 0.39 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.422 per share. This represents a $1.69 annualized dividend and a dividend yield of 9.39%. The ex-dividend date of this dividend is Wednesday, March 28th. Pattern Energy Group’s payout ratio is currently -844.96%.

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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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Institutional Ownership by Quarter for Pattern Energy Group (NASDAQ:PEGI)

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