$0.08 EPS Expected for Pattern Energy Group Inc (NASDAQ:PEGI) This Quarter

Equities analysts expect that Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) will report $0.08 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Pattern Energy Group’s earnings, with the highest EPS estimate coming in at $0.33 and the lowest estimate coming in at ($0.18). Pattern Energy Group posted earnings of ($0.13) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 161.5%. The firm is expected to announce its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Pattern Energy Group will report full year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.55) to $0.39. For the next fiscal year, analysts expect that the business will post earnings of $0.78 per share, with EPS estimates ranging from ($0.03) to $2.02. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.11). Pattern Energy Group had a negative return on equity of 3.00% and a negative net margin of 12.36%. The business had revenue of $135.00 million during the quarter, compared to analysts’ expectations of $137.90 million. During the same period in the previous year, the company posted $0.34 EPS. Pattern Energy Group’s revenue for the quarter was down .7% on a year-over-year basis.

Several equities research analysts have recently weighed in on the stock. Raymond James cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on shares of Pattern Energy Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Wells Fargo & Co cut shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating and increased their target price for the company from $24.00 to $26.00 in a research report on Wednesday, August 14th. Bank of America increased their target price on shares of Pattern Energy Group from $23.00 to $23.50 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada increased their target price on shares of Pattern Energy Group from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Pattern Energy Group has an average rating of “Hold” and a consensus price target of $24.56.

Institutional investors have recently modified their holdings of the business. Alps Advisors Inc. increased its stake in Pattern Energy Group by 83.4% during the 2nd quarter. Alps Advisors Inc. now owns 143,812 shares of the utilities provider’s stock valued at $3,321,000 after purchasing an additional 65,417 shares in the last quarter. Aperio Group LLC increased its stake in Pattern Energy Group by 26.8% during the 2nd quarter. Aperio Group LLC now owns 173,139 shares of the utilities provider’s stock valued at $3,998,000 after purchasing an additional 36,597 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Pattern Energy Group by 152.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 48,026 shares of the utilities provider’s stock valued at $1,109,000 after purchasing an additional 28,968 shares in the last quarter. AE Wealth Management LLC acquired a new position in Pattern Energy Group during the 2nd quarter valued at approximately $2,619,000. Finally, Bank of Montreal Can increased its stake in Pattern Energy Group by 5.2% during the 2nd quarter. Bank of Montreal Can now owns 647,789 shares of the utilities provider’s stock valued at $14,957,000 after purchasing an additional 31,824 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.

Shares of PEGI traded down $0.02 during mid-day trading on Friday, hitting $27.39. The company’s stock had a trading volume of 488,085 shares, compared to its average volume of 714,032. The company’s 50-day moving average is $25.82 and its 200-day moving average is $23.28. Pattern Energy Group has a 52-week low of $17.23 and a 52-week high of $27.77. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 18.89 and a beta of 0.97. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.422 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.69 dividend on an annualized basis and a yield of 6.16%. Pattern Energy Group’s payout ratio is 116.55%.

About Pattern Energy Group

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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