Could Pattern Energy Group Inc Rise More? The Stock Had Bearish Options Activity

 Could Pattern Energy Group Inc Rise More? The Stock Had Bearish Options Activity

In today’s session Pattern Energy Group Inc (PEGI) recorded an unusually high (1,000) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the June, 2017 put, expecting serious PEGI decrease. With 1,000 contracts traded and 2334 open interest for the Jun, 17 contract, it seems this is a quite bearish bet. The option with symbol: PEGI170616P00017500 closed last at: $1.25 or 3.8% down. The stock increased 1.56% or $0.31 on November 23, hitting $20.18. About 757,256 shares traded hands. Pattern Energy Group Inc (NASDAQ:PEGI) has declined 5.12% since April 22, 2016 and is downtrending. It has underperformed by 10.53% the S&P500.

Analysts await Pattern Energy Group Inc (NASDAQ:PEGI) to report earnings on March, 6. They expect $0.02 earnings per share, down 50.00% or $0.02 from last year’s $0.04 per share. PEGI’s profit will be $1.81 million for 252.25 P/E if the $0.02 EPS becomes a reality. After $-0.05 actual earnings per share reported by Pattern Energy Group Inc for the previous quarter, Wall Street now forecasts -140.00% EPS growth.

Pattern Energy Group Inc (NASDAQ:PEGI) Ratings Coverage

Out of 9 analysts covering Pattern Energy (NASDAQ:PEGI), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. Pattern Energy has been the topic of 16 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was initiated by Credit Suisse with “Outperform” on Friday, November 18. The stock has “Outperform” rating given by Avondale on Friday, July 24. Bank of America upgraded Pattern Energy Group Inc (NASDAQ:PEGI) on Thursday, October 29 to “Buy” rating. The company was downgraded on Monday, October 26 by National Bank Canada. The rating was initiated by UBS with “Neutral” on Tuesday, September 27. On Friday, September 11 the stock rating was initiated by JP Morgan with “Overweight”. On Tuesday, August 11 the stock rating was maintained by BMO Capital Markets with “Outperform”. 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 decreased to 1.77 in Q2 2016. Its down 0.19, from 1.96 in 2016Q1. The ratio dropped, 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.
Natixis Asset has 0.03% invested in the company for 11,634 shares. The Pennsylvania-based Sei Invs Company has invested 0% in Pattern Energy Group Inc (NASDAQ:PEGI). Bnp Paribas Arbitrage Sa last reported 2,241 shares in the company. Dimensional Fund Advsr L P holds 1.37 million shares or 0.02% of its portfolio. Robecosam Usa last reported 0.33% of its portfolio in the stock. D E Shaw & Co Inc holds 25,311 shares or 0% of its portfolio. Moreover, Swiss Bank & Trust has 0% invested in Pattern Energy Group Inc (NASDAQ:PEGI) for 98,649 shares. Cohen Steers holds 2.37 million shares or 0.14% of its portfolio. Amp Cap Invsts accumulated 47,278 shares or 0.01% of the stock. Bank Of Ny Mellon Corporation, a New York-based fund reported 845,613 shares. Group One Trading Ltd Partnership accumulated 0% or 3,771 shares. Harber Asset Mgmt Ltd Liability holds 3.39% or 267,105 shares in its portfolio. Deutsche Fincl Bank Ag accumulated 0.05% or 3.34 million shares. Miles Capital owns 18,742 shares or 0.29% of their US portfolio. Metropolitan Life Ny accumulated 39,632 shares or 0.01% of the stock.

Insider Transactions: Since June 30, 2016, the stock had 4 insider purchases, and 11 selling transactions for $204,742 net activity. Shares for $27,792 were sold by Pedersen Esben W.. Another trade for 11,290 shares valued at $268,702 was made by Elkort Daniel M. on Thursday, August 18. Shugart Christopher M. sold $12,150 worth of stock or 500 shares. Another trade for 4,000 shares valued at $95,370 was sold by Lillybeck Eric S.. BATKIN ALAN R had bought 5,000 shares worth $95,080. BROWNE LORD OF MADINGLEY bought $238,938 worth of stock. Bellinger Patricia S. bought $46,020 worth of stock.

Pattern Energy Group Inc. is an independent power firm focused on owning and operating power projects. The company has a market cap of $1.83 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: Prnewswire.com which released: “PEGI LOSS ALERT: Rosen Law Firm Reminds Pattern Energy Group Inc. Investors of …” on November 22, 2016, also Prnewswire.com with their article: “Pattern Energy Announces Closing of Over-Allotment Option for Class A Common Stock” published on August 22, 2016, Prnewswire.com published: “Pattern Energy Announces It is in Discussions to Acquire Interest in Armow …” on August 16, 2016. More interesting news about Pattern Energy Group Inc (NASDAQ:PEGI) were released by: Forbes.com and their article: “Pattern Energy Group (PEGI) Passes Through 7% Yield Mark” published on September 27, 2016 as well as Businesswire.com‘s news article titled: “Robbins Arroyo LLP: Pattern Energy Group Inc. (PEGI) Misled Shareholders …” with publication date: November 15, 2016.

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