Rhumbline Advisers Has $1.65 Million Holdings in Pattern Energy Group Inc (PEGI)

Rhumbline Advisers trimmed its position in shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,577 shares of the utilities provider’s stock after selling 7,622 shares during the period. Rhumbline Advisers owned 0.08% of Pattern Energy Group worth $1,646,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Pattern Energy Group in the 3rd quarter worth approximately $107,000. IFP Advisors Inc lifted its stake in shares of Pattern Energy Group by 139.6% in the 4th quarter. IFP Advisors Inc now owns 5,337 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 3,110 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Pattern Energy Group in the 3rd quarter worth approximately $135,000. Private Advisor Group LLC acquired a new stake in shares of Pattern Energy Group in the 3rd quarter worth approximately $203,000. Finally, Atria Investments LLC acquired a new stake in shares of Pattern Energy Group in the 4th quarter worth approximately $224,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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In related news, insider Esben W. Pedersen sold 2,400 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 132,128 shares of the company’s stock, valued at $2,709,945.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas G. Hall bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average cost of $17.08 per share, with a total value of $85,400.00. Following the completion of the purchase, the director now 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 corporate insiders.

A number of analysts have recently 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 note on Thursday. Goldman Sachs set a $22.00 price target on shares of Pattern Energy Group and gave the stock a “buy” rating in a research note on Saturday, March 17th. Raymond James Financial reaffirmed a “market perform” rating and issued a $20.00 price target (down from $23.00) on shares of Pattern Energy Group in a research note on Friday, March 2nd. UBS lowered shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research note on Friday, March 2nd. Finally, BMO Capital Markets reduced their price target on shares of Pattern Energy Group from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, March 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Pattern Energy Group currently has an average rating of “Hold” and a consensus target price of $23.25.

Shares of Pattern Energy Group stock opened at $17.97 on Friday. Pattern Energy Group Inc has a one year low of $16.58 and a one year high of $26.56. The company has a market cap of $1,758.63, a P/E ratio of 256.71, a P/E/G ratio of 2.03 and a beta of 0.96. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.80.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors 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 yield of 9.39%. The ex-dividend date of this dividend is Wednesday, March 28th. Pattern Energy Group’s dividend payout ratio is presently -844.96%.

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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.

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

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