Can analysts adopt a bullish outlook for Pattern Energy Group Inc. (NASDAQ:PEGI)?

December 8, 2017 - By Darrin Black

 Can analysts adopt a bullish outlook for Pattern Energy Group Inc. (NASDAQ:PEGI)?
Investors sentiment increased to 1.54 in 2017 Q2. Its up 0.21, from 1.33 in 2017Q1. It increased, as 18 investors sold Pattern Energy Group Inc. shares while 41 reduced holdings. 31 funds opened positions while 60 raised stakes. 97.67 million shares or 4.79% more from 93.21 million shares in 2017Q1 were reported.
California State Teachers Retirement System has invested 0.01% of its portfolio in Pattern Energy Group Inc. (NASDAQ:PEGI). Ahl Partners Ltd Liability Partnership, United Kingdom-based fund reported 372,591 shares. Creative Planning holds 1,202 shares. Vanguard Group Inc Inc has 0.01% invested in Pattern Energy Group Inc. (NASDAQ:PEGI). Mcf Ltd reported 62 shares. Stevens Capital Management L P accumulated 10,126 shares. Price T Rowe Assocs Md stated it has 0% of its portfolio in Pattern Energy Group Inc. (NASDAQ:PEGI). Lazard Asset Mgmt Llc has invested 0.07% in Pattern Energy Group Inc. (NASDAQ:PEGI). Cambridge Inv stated it has 0% of its portfolio in Pattern Energy Group Inc. (NASDAQ:PEGI). 134,170 are owned by First Advsrs L P. Moreover, Investec Asset Mngmt Ltd has 0.01% invested in Pattern Energy Group Inc. (NASDAQ:PEGI). Advsr Asset Mngmt invested in 1.27 million shares. Eventide Asset Ltd Liability Corp invested in 886,000 shares or 1.32% of the stock. Robecosam Ag holds 0.15% of its portfolio in Pattern Energy Group Inc. (NASDAQ:PEGI) for 75,000 shares. Millennium Mgmt Ltd Liability accumulated 607,158 shares or 0.03% of the stock.

Pattern Energy Group Inc. (NASDAQ:PEGI) Ratings Coverage

Among 14 analysts covering Pattern Energy (NASDAQ:PEGI), 11 have Buy rating, 1 Sell and 2 Hold. Therefore 79% are positive. Pattern Energy had 34 analyst reports since July 24, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Friday, November 18 by Credit Suisse. RBC Capital Markets maintained the stock with “Buy” rating in Friday, June 9 report. Goldman Sachs upgraded the shares of PEGI in report on Wednesday, December 6 to “Buy” rating. The firm has “Underperform” rating given on Friday, November 10 by Bank of America. RBC Capital Markets maintained the stock with “Buy” rating in Friday, July 21 report. The stock of Pattern Energy Group Inc. (NASDAQ:PEGI) earned “Buy” rating by RBC Capital Markets on Sunday, September 24. JP Morgan downgraded the stock to “Neutral” rating in Friday, December 16 report. The rating was maintained by RBC Capital Markets on Tuesday, June 20 with “Buy”. The rating was maintained by BMO Capital Markets on Monday, July 31 with “Buy”. The firm earned “Outperform” rating on Friday, November 10 by BMO Capital Markets. Below is a list of Pattern Energy Group Inc. (NASDAQ:PEGI) latest ratings and price target changes.

06/12/2017 Broker: Goldman Sachs Old Rating: Neutral New Rating: Buy Old Target: $21 Upgrade
10/11/2017 Broker: Bank of America Rating: Underperform Old Target: $21 New Target: $19 Maintain
10/11/2017 Broker: BMO Capital Markets Rating: Outperform Old Target: $28.5 New Target: $28 Maintain
10/11/2017 Broker: Wells Fargo Rating: Outperform Old Target: $27 New Target: $25 Maintain
27/10/2017 Broker: RBC Capital Markets Rating: Buy New Target: $25.0 Maintain
24/09/2017 Broker: RBC Capital Markets Rating: Buy New Target: $25.0 Maintain
08/09/2017 Broker: BMO Capital Markets Rating: Buy New Target: $28.5 Maintain
22/08/2017 Broker: RBC Capital Markets Rating: Buy New Target: $25.0 Maintain
02/08/2017 Broker: Desjardins Securities Rating: Buy New Target: $26.0000 Maintain
31/07/2017 Broker: BMO Capital Markets Rating: Buy New Target: $28.0000 Maintain

The stock increased 1.38% or $0.29 during the last trading session, reaching $21.33. About 760,282 shares traded. Pattern Energy Group Inc. (NASDAQ:PEGI) has risen 6.74% since December 8, 2016 and is uptrending. It has underperformed by 9.96% the S&P500.

Pattern Energy Group Inc. operates as an independent power firm that owns and operates power projects in the United States, Canada, and Chile. The company has market cap of $2.09 billion. As of March 1, 2017, the firm had a portfolio of 18 wind power projects with a total owned capacity of 2,644 MW. It has a 666.56 P/E ratio. It sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.

More recent Pattern Energy Group Inc. (NASDAQ:PEGI) news were published by: Seekingalpha.com which released: “Pattern Energy Group’s (PEGI) CEO Michael Garland on Q3 2017 Results …” on November 09, 2017. Also Seekingalpha.com published the news titled: “Despite Q3 Earnings, Buy The Drop In Pattern Energy” on November 21, 2017. Seekingalpha.com‘s news article titled: “Pattern Energy Rebound Still In Early Innings” with publication date: November 23, 2017 was also an interesting one.

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