Candriam Luxembourg S.C.A. Acquires New Holdings in Pattern Energy Group Inc (NASDAQ:PEGI)

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Candriam Luxembourg S.C.A. acquired a new stake in shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 171,204 shares of the utilities provider’s stock, valued at approximately $4,581,000. Candriam Luxembourg S.C.A. owned approximately 0.17% of Pattern Energy Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Pattern Energy Group by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,955 shares of the utilities provider’s stock valued at $1,291,000 after purchasing an additional 597 shares in the last quarter. IFP Advisors Inc grew its holdings in Pattern Energy Group by 73.1% during the fourth quarter. IFP Advisors Inc now owns 1,475 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 623 shares during the period. Barclays PLC grew its holdings in Pattern Energy Group by 0.9% during the third quarter. Barclays PLC now owns 82,010 shares of the utilities provider’s stock worth $2,209,000 after acquiring an additional 760 shares during the period. Nisa Investment Advisors LLC grew its holdings in Pattern Energy Group by 1.4% during the third quarter. Nisa Investment Advisors LLC now owns 68,535 shares of the utilities provider’s stock worth $1,846,000 after acquiring an additional 960 shares during the period. Finally, Baystate Wealth Management LLC acquired a new position in Pattern Energy Group during the third quarter worth about $27,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

A number of research analysts recently issued reports on the company. National Bank Financial lowered Pattern Energy Group from an “outperform” rating to a “tender” rating and lowered their target price for the stock from $27.00 to $26.75 in a report on Tuesday, November 5th. BidaskClub lowered Pattern Energy Group from a “sell” rating to a “strong sell” rating in a report on Friday, December 27th. Raymond James reaffirmed a “market perform” rating and set a $26.75 target price on shares of Pattern Energy Group in a report on Tuesday, November 5th. Royal Bank of Canada lowered Pattern Energy Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $28.00 to $26.75 in a report on Tuesday, November 5th. Finally, Wells Fargo & Co lowered Pattern Energy Group from an “equal weight” rating to an “underweight” rating and set a $26.75 target price on the stock. in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $25.94.

Shares of PEGI opened at $27.58 on Friday. The business’s 50-day moving average price is $26.88 and its 200 day moving average price is $26.70. The stock has a market capitalization of $2.70 billion, a P/E ratio of -26.02, a P/E/G ratio of 12.91 and a beta of 1.10. Pattern Energy Group Inc has a 1-year low of $19.19 and a 1-year high of $28.50. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.20.

About Pattern Energy Group

Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.

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

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