Goldman Sachs Initiates Coverage On Pattern Energy Group Inc to Neutral with Price Target $21

Goldman Sachs Initiates Coverage On Pattern Energy Group Inc(PEGI). In a research note issued to the investors, the brokerage major Announces the price-target to $21 per share. The shares have been rated Neutral. The rating by the stock financial advisor at Goldman Sachs was issued on Mar 15, 2017 in a research report to their Investors and Clients.

In a different note, On Dec 16, 2016, JP Morgan said it Downgrades its rating on Pattern Energy Group Inc. The shares have been rated ‘Neutral’ by the firm.

Pattern Energy Group Inc (PEGI) made into the market gainers list on Fridays trading session with the shares advancing 0.79% or 0.16 points. Due to strong positive momentum, the stock ended at $20.41, which is also near the day’s high of $20.51. The stock began the session at $20.21 and the volume stood at 9,12,106 shares. The 52-week high of the shares is $25.13 and the 52 week low is $17.695. The company has a current market capitalization of $1,784 M and it has 8,74,09,790 shares in outstanding.

Pattern Energy Group Inc(PEGI) last announced its earnings results on Mar 1, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $81.061M. Analysts had an estimated revenue of $106.710M. Earnings per share were $0.16. Analysts had estimated an EPS of $0.01.

Several Insider Transactions has been reported to the SEC. On Nov 21, 2016, Alan R Batkin (director) purchased 5,000 shares at $19.02 per share price.Also, On Nov 8, 2016, Esben W. Pedersen (Chief Investment Officer) sold 1,200 shares at $23.01 per share price.On Sep 2, 2016, Lord Of Madingley Browne (director) purchased 10,000 shares at $23.89 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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