How Analysts Feel About Pattern Energy Group Inc (PEGI) After Achieving 52-Week High?

September 17, 2017 - By Dolores Ford

Investors sentiment decreased to 1.22 in Q4 2016. Its down 0.55, from 1.77 in 2016Q3. It fall, as 19 investors sold Pattern Energy Group Inc shares while 48 reduced holdings. 22 funds opened positions while 60 raised stakes. 95.02 million shares or 4.52% less from 99.51 million shares in 2016Q3 were reported.
Moreover, Citadel Ltd Company has 0% invested in Pattern Energy Group Inc (NASDAQ:PEGI) for 15,196 shares. Cohen & Steers Incorporated invested 0.13% of its portfolio in Pattern Energy Group Inc (NASDAQ:PEGI). Fincl Bank Of Ny Mellon Corp holds 1.48 million shares. Nuveen Asset Mngmt Ltd Liability has invested 0.02% in Pattern Energy Group Inc (NASDAQ:PEGI). Toronto Dominion Bank & Trust invested in 0% or 81,248 shares. Beach Investment Mngmt Limited Liability Corp holds 164,794 shares. Moreover, Amp Cap Invsts Ltd has 0.01% invested in Pattern Energy Group Inc (NASDAQ:PEGI) for 48,307 shares. Schwab Charles Investment Inc owns 256,083 shares for 0.01% of their portfolio. Legal And General Pcl reported 0% in Pattern Energy Group Inc (NASDAQ:PEGI). Moreover, Voya Investment Mgmt has 0% invested in Pattern Energy Group Inc (NASDAQ:PEGI) for 27,208 shares. Credit Agricole S A stated it has 0.01% in Pattern Energy Group Inc (NASDAQ:PEGI). Rhumbline Advisers, a Massachusetts-based fund reported 70,866 shares. Creative Planning invested 0% in Pattern Energy Group Inc (NASDAQ:PEGI). Stoneridge Invest Partners Lc invested in 27,069 shares or 0.07% of the stock. The Japan-based Daiwa Sb Invests has invested 0.23% in Pattern Energy Group Inc (NASDAQ:PEGI).

Since May 25, 2017, it had 0 insider purchases, and 4 selling transactions for $89,700 activity. Shugart Christopher M. sold $23,000 worth of stock.

The stock of Pattern Energy Group Inc (NASDAQ:PEGI) hit a new 52-week high and has $28.40 target or 8.00 % above today’s $26.30 share price. The 8 months bullish chart indicates low risk for the $2.30 billion company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $28.40 price target is reached, the company will be worth $184.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.57% or $0.15 on September 15, reaching $26.3. About 842,945 shares traded or 20.96% up from the average. Pattern Energy Group Inc (NASDAQ:PEGI) has risen 6.74% since September 17, 2016 and is uptrending. It has underperformed by 9.96% the S&P500.

Analysts expect Pattern Energy Group Inc (NASDAQ:PEGI) to report $-0.02 EPS on November, 6.They anticipate $0.03 EPS change or 60.00 % from last quarter’s $-0.05 EPS. After having $0.16 EPS previously, Pattern Energy Group Inc’s analysts see -112.50 % EPS growth.

Pattern Energy Group Inc (NASDAQ:PEGI) Ratings Coverage

Among 13 analysts covering Pattern Energy (NASDAQ:PEGI), 10 have Buy rating, 0 Sell and 3 Hold. Therefore 77% are positive. Pattern Energy had 28 analyst reports since July 24, 2015 according to SRatingsIntel. The stock has “Buy” rating by Oppenheimer on Monday, June 19. The firm has “Outperform” rating by National Bank Canada given on Wednesday, November 18. Desjardins Securities maintained the shares of PEGI in report on Wednesday, August 2 with “Buy” rating. The stock of Pattern Energy Group Inc (NASDAQ:PEGI) has “Buy” rating given on Monday, June 19 by Desjardins Securities. The firm earned “Buy” rating on Friday, June 9 by RBC Capital Markets. The rating was downgraded by National Bank Canada on Monday, October 26 to “Sector Perform”. JP Morgan initiated the shares of PEGI in report on Friday, September 11 with “Overweight” rating. The stock of Pattern Energy Group Inc (NASDAQ:PEGI) has “Buy” rating given on Tuesday, August 22 by RBC Capital Markets. The firm has “Outperform” rating given on Tuesday, August 11 by BMO Capital Markets. The firm earned “Buy” rating on Monday, June 19 by BMO Capital Markets.

More notable recent Pattern Energy Group Inc (NASDAQ:PEGI) news were published by: Seekingalpha.com which released: “Pattern Energy: Wind At Your Back” on August 26, 2017, also Prnewswire.com with their article: “Pattern Energy Completes Acquisition of 51% of 179 MW Meikle Wind Power Facility” published on August 14, 2017, Seekingalpha.com published: “Pattern Energy Secures Growth In Own Transformation” on June 30, 2017. More interesting news about Pattern Energy Group Inc (NASDAQ:PEGI) were released by: Nasdaq.com and their article: “Pattern Energy Group (PEGI) Shares Enter Oversold Territory” published on August 09, 2017 as well as Prnewswire.com‘s news article titled: “Pattern Energy joins other American wind energy companies in $1 million gift …” with publication date: September 11, 2017.

Pattern Energy Group Inc. is an independent power firm focused on owning and operating power projects. The company has market cap of $2.30 billion. The Firm holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts . It has a 78.07 P/E ratio. Each of its projects has contracted to sell its output pursuant to a power sale agreement.

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