Candriam Luxembourg S.C.A. bought a new position in Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 171,204 shares of the utilities provider’s stock, valued at approximately $4,581,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of PEGI. Vertex One Asset Management Inc. acquired a new stake in Pattern Energy Group in the 4th quarter worth approximately $7,652,000. Phoenix Holdings Ltd. acquired a new stake in Pattern Energy Group in the 3rd quarter worth approximately $5,676,000. Dupont Capital Management Corp acquired a new stake in Pattern Energy Group in the 4th quarter worth approximately $5,054,000. State of New Jersey Common Pension Fund D acquired a new stake in Pattern Energy Group in the 3rd quarter worth approximately $2,682,000. Finally, California Public Employees Retirement System lifted its holdings in Pattern Energy Group by 68.3% in the 4th quarter. California Public Employees Retirement System now owns 164,881 shares of the utilities provider’s stock worth $4,411,000 after purchasing an additional 66,935 shares during the last quarter. Hedge funds and other institutional investors own 80.55% of the company’s stock.
A number of research analysts have recently commented on the company. Royal Bank of Canada lowered Pattern Energy Group from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $28.00 to $26.75 in a report on Tuesday, November 5th. Wells Fargo & Co lowered Pattern Energy Group from an “equal weight” rating to an “underweight” rating and set a $26.75 price target for the company. in a report on Wednesday, January 8th. Raymond James reiterated a “market perform” rating and set a $26.75 price target on shares of Pattern Energy Group in a report on Tuesday, November 5th. BidaskClub lowered Pattern Energy Group from a “sell” rating to a “strong sell” rating in a report on Friday, December 27th. Finally, National Bank Financial lowered Pattern Energy Group from an “outperform” rating to a “tender” rating and cut their price target for the stock from $27.00 to $26.75 in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Pattern Energy Group currently has an average rating of “Hold” and an average price target of $25.94.
Shares of PEGI stock opened at $27.58 on Friday. Pattern Energy Group Inc has a 12 month low of $19.19 and a 12 month high of $28.50. The firm has a market cap of $2.70 billion, a PE ratio of -26.02, a price-to-earnings-growth ratio of 12.91 and a beta of 1.10. The stock has a 50 day moving average of $26.88 and a 200-day moving average of $26.70. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.20.
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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