Revenue Update on Pattern Energy Group Inc(NASDAQ:PEGI)

Pattern Energy Group Inc(NASDAQ:PEGI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 5, 2016. Company reported revenue of $93.44M. Analysts estimated a revenue of $103.00M. Earnings per share were $-0.04. Analysts had estimated an EPS of $0.03.

Pattern Energy Group Inc (PEGI) made into the market gainers list on Wednesdays trading session with the shares advancing 2.48% or 0.57 points. Due to strong positive momentum, the stock ended at $23.59, which is also near the day’s high of $23.63. The stock began the session at $23.15 and the volume stood at 8,87,491 shares. The 52-week high of the shares is $25.13 and the 52 week low is $14.56. The company has a current market capitalization of $1,797 M and it has 7,61,70,183 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Aug 2, 2016, Esben W. Pedersen (Chief Investment Officer) sold 1,200 shares at $24.30 per share price.Also, On Aug 2, 2016, Christopher M. Shugart (Senior VP, Operations) sold 500 shares at $24.30 per share price.On Dec 3, 2015, Douglas G. Hall (director) purchased 5,500 shares at $18.09 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.

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