Pattern Energy Group (PEGI) : Analyst Rating Update

Pattern Energy Group (PEGI) : Zacks Investment Research ranks Pattern Energy Group (PEGI) as 3, which is a Hold recommendation. 7 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 3 other analysts are mildly bullish on the stock and favor a Buy. The average broker rating of 10 research analysts is 1.3, which indicates as a Strong Buy.

Pattern Energy Group (PEGI) has been rated by 9 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $35 and the lowest price target forecast is $23. The average forecast of all the analysts is $26.33 and the expected standard deviation is $3.43.

Pattern Energy Group (NASDAQ:PEGI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.50 and $23.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.80. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.74, notching a gain of 1.11% for the day. The total traded volume was 1,237,305 . The stock had closed at $23.48 on the previous day.

The company shares have dropped -19.67% from its 1 Year high price. On Jul 9, 2015, the shares registered one year high at $32.00 and the one year low was seen on Feb 29, 2016. The 50-Day Moving Average price is $21.64 and the 200 Day Moving Average price is recorded at $19.59.

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 1,636 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 Companys 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.