Pattern Energy Group (PEGI) Downgraded by TheStreet to C

Pattern Energy Group (PEGI) Downgraded by TheStreet to C

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.

Several other equities analysts have also issued reports on PEGI. Raymond James restated an “outperform” rating and set a $23.50 price target on shares of Pattern Energy Group in a research note on Monday. BidaskClub upgraded Pattern Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Zacks Investment Research lowered Pattern Energy Group from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. ValuEngine upgraded Pattern Energy Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Finally, BMO Capital Markets lowered Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research note on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Pattern Energy Group has an average rating of “Hold” and a consensus price target of $22.00.

PEGI traded up $0.09 on Tuesday, hitting $21.81. 1,885 shares of the stock traded hands, compared to its average volume of 838,244. Pattern Energy Group has a 52 week low of $16.81 and a 52 week high of $23.51. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.40 and a beta of 1.05.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings results on Friday, May 10th. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.43). Pattern Energy Group had a negative net margin of 4.52% and a negative return on equity of 1.04%. The firm had revenue of $135.00 million for the quarter, compared to the consensus estimate of $143.38 million. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. Equities research analysts expect that Pattern Energy Group will post 0.56 EPS for the current year.

In other Pattern Energy Group news, SVP Christopher M. Shugart sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $22.00, for a total transaction of $132,000.00. Following the transaction, the senior vice president now owns 64,584 shares of the company’s stock, valued at approximately $1,420,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kevin E. Devlin sold 2,943 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $21.13, for a total value of $62,185.59. Following the transaction, the senior vice president now directly owns 22,080 shares in the company, valued at approximately $466,550.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,143 shares of company stock worth $218,498. Company insiders own 1.70% of the company’s stock.

Large investors have recently bought and sold shares of the business. Investors Research Corp acquired a new position in Pattern Energy Group during the 1st quarter worth $26,000. Manchester Capital Management LLC acquired a new position in Pattern Energy Group during the 1st quarter worth $31,000. Reilly Financial Advisors LLC acquired a new position in Pattern Energy Group during the 1st quarter worth $33,000. Flagship Harbor Advisors LLC acquired a new position in shares of Pattern Energy Group in the 1st quarter valued at $41,000. Finally, Bremer Trust National Association acquired a new position in shares of Pattern Energy Group in the 4th quarter valued at $51,000. 84.17% of the stock is currently owned by hedge funds and other institutional investors.

Pattern Energy Group Company Profile

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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