Pattern Energy Group Inc (PEGI) is Initiated by Guggenheim to Buy

Pattern Energy Group Inc (PEGI) was Initiated by Guggenheim to “Buy”. Guggenheim advised their investors in a research report released on Apr 13, 2016.

Many Wall Street Analysts have commented on Pattern Energy Group Inc. Shares were Reiterated by RBC Capital Mkts on Mar 1, 2016 to “Outperform” and Lowered the Price Target to $ 25 from a previous price target of $29 .

On the company’s financial health, Pattern Energy Group Inc reported $0.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Feb 29, 2016. Analyst had a consensus of $0.13. The company had revenue of $90.60 million for the quarter, compared to analysts expectations of $97.45 million. The company’s revenue was up 14.1% compared to the same quarter last year.

Pattern Energy Group Inc closed down -0.26 points or -1.42% at $18.07 with 4,72,636 shares getting traded on Monday. Post opening the session at $18.45, the shares hit an intraday low of $18.005 and an intraday high of $18.72 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Dec 3, 2015, Douglas G. Hall (director) purchased 5,500 shares at $18.09 per share price. According to the SEC, on Nov 5, 2015, Esben W. Pedersen (Chief Investment Officer) sold 3,600 shares at $24.00 per share price. On Nov 5, 2015, Christopher M. Shugart (Senior VP, Operations) sold 3,000 shares at $24.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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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