Pattern Energy Group Inc’s Trend Down, Especially After This Options Activity

 Pattern Energy Group Inc's Trend Down, Especially After This Options Activity

In today’s session Pattern Energy Group Inc (PEGI) recorded an unusually high (808) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the March, 2017 put, expecting serious PEGI decrease. With 808 contracts traded and 11564 open interest for the Mar, 17 contract, it seems this is a quite bearish bet. The option with symbol: PEGI170317P00020000 closed last at: $1.4 or 21.7% up. About 697,370 shares traded hands or 4.03% up from the average. Pattern Energy Group Inc (NASDAQ:PEGI) has risen 16.14% since April 7, 2016 and is uptrending. It has outperformed by 11.36% the S&P500.

Pattern Energy Group Inc (NASDAQ:PEGI) Ratings Coverage

Out of 8 analysts covering Pattern Energy (NASDAQ:PEGI), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. $33 is the highest target while $22 is the lowest. The $27.13 average target is 38.91% above today’s ($19.53) stock price. Pattern Energy has been the topic of 15 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by BMO Capital Markets on Tuesday, August 11. JP Morgan initiated Pattern Energy Group Inc (NASDAQ:PEGI) rating on Friday, September 11. JP Morgan has “Overweight” rating and $28 price target. National Bank Canada downgraded Pattern Energy Group Inc (NASDAQ:PEGI) on Monday, October 26 to “Sector Perform” rating. The stock of Pattern Energy Group Inc (NASDAQ:PEGI) earned “Buy” rating by Bank of America on Thursday, October 29. The stock of Pattern Energy Group Inc (NASDAQ:PEGI) has “Neutral” rating given on Tuesday, September 27 by UBS. The firm earned “Outperform” rating on Friday, July 24 by Avondale. National Bank Canada upgraded it to “Outperform” rating and $22 target price in Wednesday, November 18 report.

According to Zacks Investment Research, “Pattern Energy Group Inc. is a premium power company. It engages in developing, constructing, owning and operating wind power. The company’s project situated primarily in the United States, Canada and parts of Latin America. Pattern Energy Group Inc. is based in San Francisco, United States.”

Insitutional Activity: The institutional sentiment increased to 1.96 in 2016 Q2. Its up 0.66, from 1.3 in 2016Q1. The ratio improved, as 11 funds sold all Pattern Energy Group Inc shares owned while 37 reduced positions. 27 funds bought stakes while 67 increased positions. They now own 93.15 million shares or 0.42% less from 93.55 million shares in 2016Q1.
Schwab Charles Inc, a California-based fund reported 192,799 shares. Bank Of America De accumulated 0% or 350,092 shares. Tradewinds Global Invsts Ltd Llc owns 217,576 shares or 0.32% of their US portfolio. Moreover, Grp Inc One Trading Limited Partnership has 0% invested in Pattern Energy Group Inc (NASDAQ:PEGI) for 3,771 shares. Trexquant Invest Limited Partnership accumulated 0.12% or 38,600 shares. Grt Capital Prtnrs Ltd Liability Company holds 0.37% of its portfolio in Pattern Energy Group Inc (NASDAQ:PEGI) for 64,102 shares. Balyasny Asset Mngmt Limited Liability Corporation holds 302,976 shares or 0.05% of its portfolio. Blackrock Gp holds 206,133 shares or 0% of its portfolio. Cap Advisors Inc Ok holds 0% or 351,748 shares in its portfolio. Swiss National Bank has 98,649 shares for 0% of their US portfolio. Metropolitan Life Ins Ny has 39,632 shares for 0.01% of their US portfolio. Brookfield Asset Management, a Ontario – Canada-based fund reported 217,400 shares. Hite Hedge Asset Ltd Company holds 3.16% or 337,682 shares in its portfolio. Putnam Fl Investment Management owns 481,025 shares or 1.31% of their US portfolio. Hightower Advsr Limited Liability has 0% invested in the company for 12,016 shares.

Insider Transactions: Since June 30, 2016, the stock had 3 insider purchases, and 11 sales for $299,822 net activity. 1,271 shares were bought by Devlin Kevin E., worth $30,466. The insider Pedersen Esben W. sold 1,200 shares worth $27,600. $95,370 worth of Pattern Energy Group Inc (NASDAQ:PEGI) shares were sold by Lillybeck Eric S.. 11,290 Pattern Energy Group Inc (NASDAQ:PEGI) shares with value of $268,702 were sold by Elkort Daniel M.. On Sunday, July 31 the insider Shugart Christopher M. sold $12,150. BROWNE LORD OF MADINGLEY bought $238,938 worth of stock or 10,000 shares. On Tuesday, August 16 Bellinger Patricia S. bought $46,020 worth of the stock or 2,000 shares.

Pattern Energy Group Inc. is an independent power firm focused on owning and operating power projects. The company has a market cap of $1.73 billion. The Firm holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts . It currently has negative earnings. Each of its projects has contracted to sell its output pursuant to a power sale agreement.

PEGI Company Profile

Pattern Energy Group Inc. (Pattern Energy), incorporated on October 2, 2012, is an independent power firm focused on owning and operating power projects. The Firm holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement. The Firm sells its electricity and environmental attributes, including renewable energy credits (RECs), to local utilities under long-term and 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; Grand, Ontario; Post Rock, Kansas; Lost Creek, Missouri; K2, Ontario; Logan’s Gap, Texas, Amazon Wind Farm Fowler Ridge, Indiana, and Armow Wind power facility in Ontario, Canada.

More notable recent Pattern Energy Group Inc (NASDAQ:PEGI) news were published by: Businesswire.com which released: “EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims …” on November 08, 2016, also Prnewswire.com with their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” published on November 08, 2016, Prnewswire.com published: “SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of …” on November 08, 2016. More interesting news about Pattern Energy Group Inc (NASDAQ:PEGI) were released by: Prnewswire.com and their article: “Pattern Energy Completes Acquisition of Armow Wind Power Facility” published on October 18, 2016 as well as Forbes.com‘s news article titled: “Pattern Energy Group (PEGI) Passes Through 7% Yield Mark” with publication date: September 27, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment