Pattern Energy Group Inc (PEGI) Shares Obtained by Brookfield Asset Management Inc.

Pattern Energy Group Inc (PEGI) Shares Obtained by Brookfield Asset Management Inc.

Brookfield Asset Management Inc. increased its stake in shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,900 shares of the company’s stock after buying an additional 11,800 shares during the period. Brookfield Asset Management Inc. owned approximately 0.26% of Pattern Energy Group worth $4,309,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in shares of Pattern Energy Group during the fourth quarter valued at $133,000. Bienville Capital Management LLC acquired a new stake in shares of Pattern Energy Group during the fourth quarter valued at $213,000. Quadrature Capital Ltd acquired a new stake in shares of Pattern Energy Group during the fourth quarter valued at $244,000. RobecoSam USA Inc. increased its stake in shares of Pattern Energy Group by 16.5% in the third quarter. RobecoSam USA Inc. now owns 13,400 shares of the company’s stock valued at $301,000 after buying an additional 1,900 shares during the period. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Pattern Energy Group during the fourth quarter valued at $300,000.

Pattern Energy Group Inc (NASDAQ:PEGI) opened at 20.13 on Friday. The stock’s market capitalization is $1.76 billion. Pattern Energy Group Inc has a one year low of $17.70 and a one year high of $25.13. The firm has a 50-day moving average of $20.28 and a 200-day moving average of $20.57.

Pattern Energy Group (NASDAQ:PEGI) last released its earnings results on Wednesday, March 1st. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.00 by $0.16. The company earned $81.06 million during the quarter, compared to the consensus estimate of $105.84 million. Pattern Energy Group had a negative net margin of 7.83% and a positive return on equity of 0.16%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 EPS. On average, equities research analysts forecast that Pattern Energy Group Inc will post $0.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be given a $0.4138 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $1.66 annualized dividend and a dividend yield of 8.22%. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.41. Pattern Energy Group’s payout ratio is presently -428.95%.

Several equities research analysts have recently weighed in on the stock. Macquarie downgraded shares of Pattern Energy Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, March 23rd. Zacks Investment Research upgraded shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, February 10th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $28.00 target price (down previously from $36.00) on shares of Pattern Energy Group in a research note on Friday, March 3rd. Royal Bank of Canada reiterated an “outperform” rating on shares of Pattern Energy Group in a research note on Friday, December 16th. Finally, Goldman Sachs Group Inc assumed coverage on shares of Pattern Energy Group in a research note on Tuesday, March 14th. They set a “neutral” rating and a $21.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.38.

In related news, Director Patricia S. Bellinger bought 3,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $19.74 per share, with a total value of $59,220.00. Following the transaction, the director now owns 17,738 shares of the company’s stock, valued at $350,148.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.79% of the stock is currently owned by insiders.

About Pattern Energy Group

Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.

Want to see what other hedge funds are holding PEGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG).

Related posts

Leave a Comment