Pattern Energy Group (PEGI) Receives Analyst Rating

Pattern Energy Group (PEGI) : Zacks Investment Research ranks Pattern Energy Group (PEGI) as 4, which is a Sell 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) : The most positive equity analysts on Pattern Energy Group (PEGI) expects the shares to touch $36, whereas, the least positive believes that the stock will trade at $25 in the short term. The company is covered by 9 Wall Street Brokerage Firms. The average price target for shares are $28.78 with an expected fluctuation of $4.27 from the mean.


Also, Oppenheimer initiates coverage on Pattern Energy Group (NASDAQ:PEGI).The analysts at the brokerage house have a current rating of Outperform on the shares. The rating by the firm was issued on September 8, 2016.

Pattern Energy Group (NASDAQ:PEGI): After opening at $23.13, the stock dipped to an intraday low of $22.9 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $23.34 and the buying power remained strong till the end. The stock closed at $23.2 for the day, a gain of 0.30% for the day session. The total traded volume was 572,562. The stocks close on the previous trading day was $23.13.

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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