Pattern Energy Group Inc (PEGI) Receives Consensus Recommendation of “Hold” from Brokerages
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.
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.
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.
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