Pattern Energy Group Inc (PEGI) Releases Earnings Results, Misses Expectations By $-0.32 EPS

Pattern Energy Group Inc (PEGI) reported quarterly earnings results on Monday, May-9-2016. The company reported $-0.32 earnings per share for the quarter, missing the analyst consensus estimate by $-0.32. Analysts had a consensus of $0.00. The company posted revenue of $87.60 million in the period, compared to analysts expectations of $96.77 million. The company’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.30 EPS.

Many Wall Street Analysts have commented on Pattern Energy Group Inc. Pattern Energy Group Inc was Initiated by Guggenheim to “Buy” on Apr 13, 2016. 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 .

Pattern Energy Group Inc opened for trading at $20.22 and hit $20.63 on the upside on Friday, eventually ending the session at $20.3, with a gain of 0.25% or 0.05 points. The heightened volatility saw the trading volume jump to 8,28,685 shares. Company has a market cap of $1,515 M.

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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