Equities Analysts Set Expectations for Pattern Energy Group Inc’s FY2018 Earnings (PEGI)

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Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) – Equities research analysts at National Bank Financial lifted their FY2018 EPS estimates for Pattern Energy Group in a report released on Monday, November 5th. National Bank Financial analyst R. Merer now anticipates that the utilities provider will earn $1.55 per share for the year, up from their prior estimate of $1.53. National Bank Financial has a “Outperform” rating and a $24.00 price objective on the stock. National Bank Financial also issued estimates for Pattern Energy Group’s Q4 2018 earnings at $0.02 EPS.

Other equities analysts have also recently issued research reports about the stock. Raymond James upgraded shares of Pattern Energy Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $20.00 to $22.50 in a research report on Tuesday. Zacks Investment Research cut shares of Pattern Energy Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Bank of America cut shares of Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research report on Friday, July 13th. BidaskClub upgraded shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Pattern Energy Group in a report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Pattern Energy Group has an average rating of “Hold” and an average price target of $22.42.

PEGI stock opened at $20.21 on Wednesday. Pattern Energy Group has a 12-month low of $16.58 and a 12-month high of $22.79. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 106.37, a PEG ratio of 0.40 and a beta of 1.07. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.91 and a current ratio of 0.91.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings data on Monday, November 5th. The utilities provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). Pattern Energy Group had a net margin of 28.80% and a return on equity of 6.91%. The firm had revenue of $118.39 million during the quarter, compared to analysts’ expectations of $117.22 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. Pattern Energy Group’s revenue was up 28.6% compared to the same quarter last year.

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

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be paid a $0.422 dividend. The ex-dividend date is Friday, December 28th. This represents a $1.69 annualized dividend and a dividend yield of 8.35%. Pattern Energy Group’s dividend payout ratio is presently 889.47%.

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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