New Rating issued on Pattern Energy Group Inc (PEGI): Initiated by Goldman to “Neutral”

Pattern Energy Group Inc (PEGI) was Initiated by Goldman to “Neutral” and the brokerage firm has set the Price Target at $21. Goldman advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Goldman Initiated Pattern Energy Group Inc on Mar 15, 2017 to “Neutral”, Price Target of the shares are set at $21.

Several company insiders have filed Insider transactions , on Nov 21, 2016, Alan R Batkin (director) purchased 5,000 shares at $19.02 per share price. According to the SEC, on Nov 8, 2016, Esben W. Pedersen (Chief Investment Officer) sold 1,200 shares at $23.01 per share price. On Sep 2, 2016, Lord Of Madingley Browne (director) purchased 10,000 shares at $23.89 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, Pattern Energy Group Inc reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Mar 1, 2017. Analyst had a consensus of $0.13. The company had revenue of $81.06 million for the quarter, compared to analysts expectations of $104.10 million. The company’s revenue was down -10.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

Pattern Energy Group Inc opened for trading at $19.6 and hit $20.2 on the upside on Wednesday, eventually ending the session at $20.06, with a gain of 2.40% or 0.47 points. The heightened volatility saw the trading volume jump to 8,60,599 shares. Company has a market cap of $1,753 M.

Pattern Energy Group Inc. (Pattern Energy) owns and operates power projects. It holds interests in 12 wind power projects located in the United States Canada and Chile with total capacity of 1636 megawatts (MW). The projects consist of 11 operating projects and one project under construction. Each of its projects has contracted to sell its output pursuant to a power sale agreement. It sells its electricity and environmental attributes including renewable energy credits (RECs) to local utilities under long-term fixed-price power purchase agreements (PPAs). The Company’s operating projects are Gulf Wind Texas; Hatchet Ridge California; St. Joseph Manitoba; Spring Valley Nevada; Santa Isabel Puerto Rico; Ocotillo California; South Kent Ontario; El Arrayan Chile; Panhandle 1 Texas; Panhandle 2 Texas and Grand Ontario.

Pattern Energy Group Inc

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