Analyst Price Target Update on Pattern Energy Group (NASDAQ:PEGI)

Pattern Energy Group (NASDAQ:PEGI): 9 analysts have set the short term price target of Pattern Energy Group (NASDAQ:PEGI) at $26.33. The standard deviation of short term price target has been estimated at $3.43, implying that the actual price may fluctuate by this value. The higher and the lower price estimates are $ 35 and $23 respectively.

Many analysts have stated their opinion on the company shares. BMO Capital maintains its rating on Pattern Energy Group (NASDAQ:PEGI). The global brokerage major lowers the current price target from $26 per share to $23 per share. Analysts at the BMO Capital have a current rating of Outperform on the shares. The rating by the firm was issued on March 1, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Pattern Energy Group Inc., Hall Douglas G., had purchased 5,500 shares in a transaction dated on December 1, 2015. The transaction was executed at $18.09 per share with total amount equaling $99,495.

Pattern Energy Group (NASDAQ:PEGI) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.32 points or 1.51% at $20.84 with 1,257,890 shares getting traded. Post opening the session at $20.93, the shares hit an intraday low of $20.5 and an intraday high of $21.115 and the price was in this range throughout the day. The company has a market cap of $1,562 million and the number of outstanding shares have been calculated to be 74,930,648 shares. The 52-week high of Pattern Energy Group (NASDAQ:PEGI) is $32 and the 52-week low is $14.56.

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.

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