Shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) have been assigned an average recommendation of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $24.62.

Several research analysts recently issued reports on the company. Williams Capital assumed coverage on Pattern Energy Group in a research report on Monday, October 16th. They set a “buy” rating and a $28.00 target price on the stock. Bank of America reaffirmed an “underperform” rating and set a $21.00 target price on shares of Pattern Energy Group in a research report on Tuesday, October 24th. BidaskClub cut Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Zacks Investment Research cut Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, Morgan Stanley cut Pattern Energy Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $33.00 to $25.00 in a research report on Tuesday, December 12th.

In other Pattern Energy Group news, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $21.59, for a total value of $51,816.00. Following the transaction, the insider now owns 134,528 shares of the company’s stock, valued at $2,904,459.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 7,200 shares of company stock worth $155,112. Insiders own 1.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PEGI. Cubist Systematic Strategies LLC purchased a new position in Pattern Energy Group in the third quarter worth $107,000. IFP Advisors Inc boosted its position in Pattern Energy Group by 139.6% in the fourth quarter. IFP Advisors Inc now owns 5,337 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 3,110 shares during the last quarter. Advisor Group Inc. boosted its position in Pattern Energy Group by 31.0% in the second quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 1,193 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Pattern Energy Group in the third quarter worth $135,000. Finally, Ameritas Investment Partners Inc. boosted its position in Pattern Energy Group by 7.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,179 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 451 shares during the last quarter. 76.86% of the stock is currently owned by institutional investors and hedge funds.

Pattern Energy Group (NASDAQ PEGI) opened at $19.03 on Tuesday. The stock has a market capitalization of $1,860.00, a P/E ratio of 475.75, a P/E/G ratio of 3.26 and a beta of 0.88. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.87. Pattern Energy Group has a 1 year low of $18.20 and a 1 year high of $26.56.

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About Pattern Energy Group

Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.

Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

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