$0.12 Earnings Per Share Expected for Pattern Energy Group Inc (PEGI) This Quarter

Wall Street analysts expect Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) to report $0.12 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for Pattern Energy Group’s earnings. The lowest EPS estimate is ($0.18) and the highest is $0.47. Pattern Energy Group reported earnings of $1.32 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 90.9%. The business is expected to report its next quarterly earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Pattern Energy Group will report full-year earnings of $0.49 per share for the current financial year, with EPS estimates ranging from ($0.64) to $1.87. For the next fiscal year, analysts expect that the firm will report earnings of $0.52 per share, with EPS estimates ranging from ($0.46) to $2.02. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last posted its quarterly earnings results on Friday, March 1st. The utilities provider reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.34). The firm had revenue of $113.00 million for the quarter, compared to analysts’ expectations of $139.72 million. Pattern Energy Group had a net margin of 29.62% and a return on equity of 6.45%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS.

A number of research analysts recently weighed in on PEGI shares. Macquarie downgraded shares of Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research report on Monday, February 4th. BidaskClub downgraded shares of Pattern Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Bank of America upgraded shares of Pattern Energy Group from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $18.50 in a research report on Thursday, December 27th. Raymond James increased their price objective on shares of Pattern Energy Group from $22.50 to $23.50 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, BMO Capital Markets cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research note on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $22.00.

Pattern Energy Group stock traded down $0.01 during midday trading on Monday, reaching $22.40. 573,078 shares of the company traded hands, compared to its average volume of 835,725. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.66 and a beta of 1.05. Pattern Energy Group has a 12 month low of $16.81 and a 12 month high of $22.91. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.94.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.422 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.69 annualized dividend and a dividend yield of 7.54%. Pattern Energy Group’s dividend payout ratio (DPR) is presently 116.55%.

In related news, SVP Kevin E. Devlin sold 2,943 shares of Pattern Energy Group stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $21.13, for a total transaction of $62,185.59. Following the completion of the sale, the senior vice president now owns 22,080 shares in the company, valued at approximately $466,550.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher M. Shugart sold 6,000 shares of Pattern Energy Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the sale, the senior vice president now owns 64,584 shares of the company’s stock, valued at approximately $1,420,848. The disclosure for this sale can be found here. Insiders sold a total of 11,343 shares of company stock valued at $243,842 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. Prudential Financial Inc. purchased a new position in shares of Pattern Energy Group in the 3rd quarter worth approximately $591,000. CI Investments Inc. grew 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 worth $111,926,000 after purchasing an additional 23,575 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Pattern Energy Group by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,942,421 shares of the utilities provider’s stock worth $38,595,000 after purchasing an additional 30,164 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Pattern Energy Group by 53.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 55,343 shares of the utilities provider’s stock worth $1,100,000 after purchasing an additional 19,394 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Pattern Energy Group by 5.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,148,539 shares of the utilities provider’s stock worth $22,821,000 after purchasing an additional 62,263 shares during the last quarter. Institutional investors and hedge funds own 83.73% of the company’s stock.

Pattern Energy Group Company Profile

Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.

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