Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) SVP Christopher M. Shugart sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the transaction, the senior vice president now directly owns 64,584 shares of the company’s stock, valued at $1,420,848. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of NASDAQ:PEGI opened at $21.91 on Friday. Pattern Energy Group Inc has a 1 year low of $16.78 and a 1 year high of $22.09. The stock has a market cap of $2.15 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.94.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its earnings results on Friday, March 1st. The utilities provider reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.34). Pattern Energy Group had a net margin of 29.62% and a return on equity of 6.45%. The business had revenue of $113.00 million for the quarter, compared to analyst estimates of $139.72 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Research analysts expect that Pattern Energy Group Inc will post 0.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.422 per share. This represents a $1.69 annualized dividend and a yield of 7.70%. The ex-dividend date is Thursday, March 28th. Pattern Energy Group’s dividend payout ratio is currently 116.55%.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc increased its position in Pattern Energy Group by 5.8% during the 3rd quarter. Vanguard Group Inc now owns 8,397,976 shares of the utilities provider’s stock valued at $166,869,000 after buying an additional 460,066 shares in the last quarter. Vanguard Group Inc. increased its position in Pattern Energy Group by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,397,976 shares of the utilities provider’s stock valued at $166,869,000 after buying an additional 460,066 shares in the last quarter. BlackRock Inc. increased its position in Pattern Energy Group by 5.8% during the 4th quarter. BlackRock Inc. now owns 6,779,371 shares of the utilities provider’s stock valued at $126,232,000 after buying an additional 370,892 shares in the last quarter. CI Investments Inc. increased its position in Pattern Energy Group by 0.4% during the 3rd quarter. CI Investments Inc. now owns 5,632,927 shares of the utilities provider’s stock valued at $111,926,000 after buying an additional 23,575 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Pattern Energy Group by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,026,095 shares of the utilities provider’s stock valued at $37,725,000 after buying an additional 83,674 shares in the last quarter. 82.54% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on PEGI shares. ValuEngine raised Pattern Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 15th. Macquarie lowered Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research report on Monday, February 4th. Bank of America raised Pattern Energy Group from an “underperform” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $18.50 in a research report on Thursday, December 27th. Zacks Investment Research lowered Pattern Energy Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, BMO Capital Markets lowered Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research report on Friday, February 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Pattern Energy Group presently has a consensus rating of “Hold” and an average target price of $22.00.

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About Pattern Energy Group

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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