Creative Planning Invests $214,000 in Pattern Energy Group Inc (NASDAQ:PEGI)

Creative Planning acquired a new position in shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,984 shares of the utilities provider’s stock, valued at approximately $214,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Pattern Energy Group by 1.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,955 shares of the utilities provider’s stock worth $1,291,000 after buying an additional 597 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Pattern Energy Group by 73.1% during the 4th quarter. IFP Advisors Inc now owns 1,475 shares of the utilities provider’s stock worth $39,000 after buying an additional 623 shares during the last quarter. Barclays PLC increased its holdings in shares of Pattern Energy Group by 0.9% during the 3rd quarter. Barclays PLC now owns 82,010 shares of the utilities provider’s stock worth $2,209,000 after buying an additional 760 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Pattern Energy Group by 1.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 68,535 shares of the utilities provider’s stock worth $1,846,000 after buying an additional 960 shares during the last quarter. Finally, Baystate Wealth Management LLC acquired a new stake in shares of Pattern Energy Group during the 3rd quarter worth $27,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

Shares of NASDAQ PEGI opened at $27.58 on Friday. Pattern Energy Group Inc has a 12-month low of $19.19 and a 12-month high of $28.50. The company has a market cap of $2.70 billion, a P/E ratio of -26.02, a P/E/G ratio of 12.91 and a beta of 1.10. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.20. The stock has a fifty day moving average price of $26.88 and a 200 day moving average price of $26.70.

PEGI has been the subject of a number of research analyst reports. Wells Fargo & Co downgraded Pattern Energy Group from an “equal weight” rating to an “underweight” rating and set a $26.75 price objective for the company. in a report on Wednesday, January 8th. Royal Bank of Canada downgraded Pattern Energy Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $28.00 to $26.75 in a report on Tuesday, November 5th. Raymond James restated a “market perform” rating and set a $26.75 price objective on shares of Pattern Energy Group in a report on Tuesday, November 5th. BidaskClub downgraded Pattern Energy Group from a “sell” rating to a “strong sell” rating in a report on Friday, December 27th. Finally, National Bank Financial downgraded Pattern Energy Group from an “outperform” rating to a “tender” rating and dropped their price objective for the stock from $27.00 to $26.75 in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $25.94.

About Pattern Energy Group

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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