Wilbanks Smith & Thomas Asset Management LLC purchased a new position in Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 11,928 shares of the utilities provider’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Pattern Energy Group in the 3rd quarter worth approximately $107,000. Advisor Group Inc. lifted its holdings in shares of Pattern Energy Group by 31.0% in the 2nd 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. IFP Advisors Inc lifted its holdings in shares of Pattern Energy Group by 139.6% in the 4th 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. Point72 Asset Management L.P. bought a new stake in shares of Pattern Energy Group in the 3rd quarter worth approximately $135,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Pattern Energy Group by 7.9% in the 2nd 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.

In other Pattern Energy Group news, insider Esben W. Pedersen sold 2,400 shares of Pattern Energy Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $22.53, for a total transaction of $54,072.00. Following the sale, the insider now owns 141,011 shares of the company’s stock, valued at approximately $3,176,977.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 7,200 shares of company stock worth $155,112 in the last ninety days. 1.60% of the stock is owned by company insiders.

Shares of Pattern Energy Group Inc (PEGI) opened at $18.48 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $1,863.15, a price-to-earnings ratio of 462.12, a price-to-earnings-growth ratio of 3.32 and a beta of 0.88. Pattern Energy Group Inc has a 12 month low of $18.20 and a 12 month high of $26.56.

Several analysts recently issued reports on PEGI shares. BMO Capital Markets cut their price target on Pattern Energy Group from $28.50 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Pattern Energy Group in a report on Tuesday, October 24th. Zacks Investment Research raised Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley downgraded Pattern Energy Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $33.00 to $25.00 in a report on Tuesday, December 12th. Finally, National Bank Financial cut their target price on Pattern Energy Group from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $24.86.

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Pattern Energy Group Profile

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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Institutional Ownership by Quarter for Pattern Energy Group (NASDAQ:PEGI)

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