Marshall Wace LLP Invests $774,000 in Pattern Energy Group Inc (NASDAQ:PEGI)

Marshall Wace LLP purchased a new position in shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 35,189 shares of the utilities provider’s stock, valued at approximately $774,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Pattern Energy Group by 5.8% in the fourth quarter. BlackRock Inc. now owns 6,779,371 shares of the utilities provider’s stock worth $126,232,000 after purchasing an additional 370,892 shares during the period. Dimensional Fund Advisors LP grew its position in Pattern Energy Group by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,026,095 shares of the utilities provider’s stock valued at $37,725,000 after acquiring an additional 83,674 shares during the last quarter. Intact Investment Management Inc. grew its position in Pattern Energy Group by 36.1% in the first quarter. Intact Investment Management Inc. now owns 1,739,904 shares of the utilities provider’s stock valued at $50,701,000 after acquiring an additional 461,400 shares during the last quarter. Northern Trust Corp grew its position in Pattern Energy Group by 49.0% in the fourth quarter. Northern Trust Corp now owns 1,505,543 shares of the utilities provider’s stock valued at $28,033,000 after acquiring an additional 495,042 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Pattern Energy Group by 24.8% in the fourth quarter. Geode Capital Management LLC now owns 1,152,398 shares of the utilities provider’s stock valued at $21,457,000 after acquiring an additional 229,260 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Shares of Pattern Energy Group stock traded down $0.23 during midday trading on Friday, reaching $23.53. The company had a trading volume of 504,224 shares, compared to its average volume of 560,216. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 16.23 and a beta of 1.06. Pattern Energy Group Inc has a fifty-two week low of $17.23 and a fifty-two week high of $23.88. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01. The stock’s fifty day moving average is $22.89.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its earnings results on Friday, May 10th. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.43). Pattern Energy Group had a negative return on equity of 1.06% and a negative net margin of 4.52%. The company had revenue of $135.00 million for the quarter, compared to the consensus estimate of $143.38 million. During the same period in the prior year, the company earned $1.32 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. Research analysts forecast that Pattern Energy Group Inc will post -0.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.422 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.69 dividend on an annualized basis and a yield of 7.17%. Pattern Energy Group’s dividend payout ratio (DPR) is presently 116.55%.

A number of research analysts have issued reports on the company. TheStreet upgraded Third Point Reinsurance from a “d+” rating to a “c-” rating in a research report on Tuesday, May 14th. Royal Bank of Canada reiterated an “underperform” rating and issued a GBX 215 ($2.81) target price on shares of in a research report on Wednesday, June 26th. Raymond James reiterated a “neutral” rating and issued a $35.00 target price on shares of Stantec in a research report on Monday, May 13th. Finally, BidaskClub raised Waterstone Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.29.

Pattern Energy Group Company Profile

Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.

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Institutional Ownership by Quarter for Pattern Energy Group (NASDAQ:PEGI)

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