UBS Initiates Coverage on Pattern Energy Group Inc to Neutral

UBS Initiates Coverage on Pattern Energy Group Inc(NASDAQ:PEGI). The shares have been rated Neutral. The rating by UBS was issued on Sep 27, 2016.

In a different note, Oppenheimer said it Initiates Coverage on Pattern Energy Group Inc, according to a research note issued on Sep 8, 2016. The shares have been rated ‘Outperform’ by the firm.

Pattern Energy Group Inc (PEGI) shares turned negative on Fridays trading session with the shares closing down -0.2 points or -0.88% at a volume of 7,41,474. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22.83. The peak price level was also seen at $22.83 while the days lowest was $22.27. Finally the shares closed at $22.49. The 52-week high of the shares is $25.13 while the 52-week low is $14.56. According to the latest information available, the market cap of the company is $1,713 M.

Pattern Energy Group Inc(PEGI) last announced its earnings results on Aug 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $93.44M. Analysts had an estimated revenue of $103.00M. Earnings per share were $-0.04. Analysts had estimated an EPS of $0.03.

Several Insider Transactions has been reported to the SEC. On Sep 2, 2016, Lord Of Madingley Browne (director) purchased 10,000 shares at $23.89 per share price.Also, On Sep 2, 2016, Esben W. Pedersen (Chief Investment Officer) sold 1,200 shares at $23.80 per share price.On Sep 2, 2016, Christopher M. Shugart (Senior VP, Operations) sold 500 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.

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