Insider Selling: Pattern Energy Group Inc (PEGI) Insider Sells 1,200 Shares of Stock

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Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $20.00, for a total value of $24,000.00. Following the completion of the sale, the insider now owns 156,627 shares in the company, valued at $3,132,540. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of PEGI traded down $0.34 during midday trading on Thursday, hitting $20.52. 90,031 shares of the company traded hands, compared to its average volume of 1,217,444. Pattern Energy Group Inc has a one year low of $16.58 and a one year high of $22.79. The stock has a market cap of $1.98 billion, a PE ratio of 108.00, a P/E/G ratio of 0.43 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 0.54 and a debt-to-equity ratio of 0.97.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its quarterly earnings results on Monday, November 5th. The utilities provider reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.09). Pattern Energy Group had a net margin of 30.81% and a return on equity of 7.35%. The company had revenue of $118.39 million for the quarter, compared to the consensus estimate of $117.22 million. During the same quarter in the prior year, the company earned ($0.34) earnings per share. The company’s quarterly revenue was up 28.6% on a year-over-year basis. Analysts expect that Pattern Energy Group Inc will post 1.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be issued a dividend of $0.422 per share. This represents a $1.69 annualized dividend and a dividend yield of 8.23%. The ex-dividend date of this dividend is Friday, December 28th. Pattern Energy Group’s payout ratio is 889.47%.

Several hedge funds and other institutional investors have recently modified their holdings of PEGI. Principal Financial Group Inc. grew its holdings in shares of Pattern Energy Group by 10.1% during the first quarter. Principal Financial Group Inc. now owns 57,207 shares of the utilities provider’s stock worth $989,000 after purchasing an additional 5,246 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of Pattern Energy Group by 28.1% during the second quarter. Xact Kapitalforvaltning AB now owns 16,846 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 3,700 shares in the last quarter. Daiwa SB Investments Ltd. grew its holdings in shares of Pattern Energy Group by 86.9% during the second quarter. Daiwa SB Investments Ltd. now owns 303,682 shares of the utilities provider’s stock worth $5,694,000 after purchasing an additional 141,205 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Pattern Energy Group by 22.2% during the second quarter. Nisa Investment Advisors LLC now owns 59,475 shares of the utilities provider’s stock worth $1,115,000 after purchasing an additional 10,800 shares in the last quarter. Finally, Intact Investment Management Inc. grew its holdings in shares of Pattern Energy Group by 23.7% during the second quarter. Intact Investment Management Inc. now owns 1,482,104 shares of the utilities provider’s stock worth $36,089,000 after purchasing an additional 283,500 shares in the last quarter. 90.18% of the stock is owned by institutional investors.

A number of equities research analysts recently issued reports on PEGI shares. Wells Fargo & Co restated a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of Pattern Energy Group in a research note on Monday, September 17th. BidaskClub cut Pattern Energy Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Bank of America cut Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research report on Friday, July 13th. Zacks Investment Research upgraded Pattern Energy Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, July 16th. Finally, TheStreet upgraded Pattern Energy Group from a “c+” rating to a “b-” rating in a research report on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.42.

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Pattern Energy Group Company Profile

Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.

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

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