Beach Investment Counsel INC Decreased Position in Pattern Energy Group INC Cla (PEGI) by $3.61 Million as Market Valuation Declined

July 13, 2018 - By Patrick Harkless

Investors sentiment decreased to 1.34 in Q1 2018. Its down 0.21, from 1.55 in 2017Q4. It fall, as 17 investors sold PEGI shares while 47 reduced holdings. 24 funds opened positions while 62 raised stakes. 90.43 million shares or 10.86% more from 81.57 million shares in 2017Q4 were reported. The Ontario – Canada-based Scotia Inc has invested 0.02% in Pattern Energy Group Inc. (NASDAQ:PEGI). Commerce Of Vermont owns 1,743 shares. Malaga Cove Cap Limited holds 61,626 shares. Tealwood Asset Management Inc invested in 0.65% or 94,765 shares. Raymond James Assocs invested in 21,001 shares. Lpl Financial Ltd Llc has invested 0% in Pattern Energy Group Inc. (NASDAQ:PEGI). Barclays Public Limited Company has invested 0% in Pattern Energy Group Inc. (NASDAQ:PEGI). Tortoise Capital Advisors Limited Liability Company accumulated 1,592 shares. Amp Cap Investors holds 192,334 shares. California State Teachers Retirement System owns 119,979 shares for 0% of their portfolio. Proshare Advsr Ltd Company owns 10,056 shares or 0% of their US portfolio. Alliancebernstein Ltd Partnership reported 206,611 shares or 0% of all its holdings. 35,221 are held by Asset Mgmt One. Advisory Rech Inc holds 480,583 shares. Marshall Wace Llp invested in 0.02% or 32,400 shares.

Since February 1, 2018, it had 2 buys, and 1 sale for $208,097 activity. 5,000 shares were bought by Hall Douglas G., worth $85,402 on Tuesday, March 6. 10,000 shares were bought by BATKIN ALAN R, worth $171,926 on Wednesday, March 7.

Beach Investment Counsel Inc decreased its stake in Pattern Energy Group Inc. Cla (PEGI) by 10.86% based on its latest 2018Q1 regulatory filing with the SEC. Beach Investment Counsel Inc sold 212,561 shares as the company’s stock declined 2.34% with the market. The hedge fund held 1.75 million shares of the central company at the end of 2018Q1, valued at $30.18 million, down from 1.96M at the end of the previous reported quarter. Beach Investment Counsel Inc who had been investing in Pattern Energy Group Inc. Cla for a number of months, seems to be less bullish one the $1.68B market cap company. The stock decreased 8.12% or $1.51 during the last trading session, reaching $17.14. About 6.86 million shares traded or 731.76% up from the average. Pattern Energy Group Inc. (NASDAQ:PEGI) has declined 19.62% since July 13, 2017 and is downtrending. It has underperformed by 32.19% the S&P500.

Beach Investment Counsel Inc, which manages about $1.43 billion and $959.99M US Long portfolio, upped its stake in Union Pacific (NYSE:UNP) by 30,690 shares to 44,746 shares, valued at $6.02M in 2018Q1, according to the filing.

Analysts await Pattern Energy Group Inc. (NASDAQ:PEGI) to report earnings on August, 14. They expect $0.09 EPS, down 43.75 % or $0.07 from last year’s $0.16 per share. PEGI’s profit will be $8.83M for 47.61 P/E if the $0.09 EPS becomes a reality. After $1.32 actual EPS reported by Pattern Energy Group Inc. for the previous quarter, Wall Street now forecasts -93.18 % negative EPS growth.

More recent Pattern Energy Group Inc. (NASDAQ:PEGI) news were published by: Fool.com which released: “3 Stocks to Buy and Hold for the Next 50 Years” on June 29, 2018. Also 247Wallst.com published the news titled: “Top Analyst Upgrades and Downgrades: AT&T, BlackRock, Broadcom, Diageo, Kinross Gold, United Rentals, Williams …” on July 13, 2018. Benzinga.com‘s news article titled: “30 Stocks Moving In Friday’s Mid-Day Session” with publication date: July 13, 2018 was also an interesting one.

Pattern Energy Group Inc. (NASDAQ:PEGI) Ratings Coverage

Among 8 analysts covering Pattern Energy (NASDAQ:PEGI), 5 have Buy rating, 0 Sell and 3 Hold. Therefore 63% are positive. Pattern Energy had 11 analyst reports since February 6, 2018 according to SRatingsIntel. BMO Capital Markets maintained it with “Buy” rating and $26.0 target in Tuesday, February 6 report. RBC Capital Markets maintained Pattern Energy Group Inc. (NASDAQ:PEGI) rating on Friday, March 2. RBC Capital Markets has “Buy” rating and $23.0 target. As per Tuesday, February 27, the company rating was maintained by Desjardins Securities. Desjardins Securities maintained Pattern Energy Group Inc. (NASDAQ:PEGI) on Tuesday, March 20 with “Buy” rating. Bank of America upgraded it to “Hold” rating and $17.0 target in Friday, March 2 report. The stock has “Hold” rating by Williams Capital Group on Monday, March 5. The firm has “Buy” rating given on Friday, March 2 by Guggenheim. The stock has “Outperform” rating by BMO Capital Markets on Friday, March 2. As per Friday, March 2, the company rating was downgraded by Raymond James. The firm has “Buy” rating given on Monday, April 23 by BMO Capital Markets.

Pattern Energy Group Inc. (NASDAQ:PEGI) Institutional Positions Chart

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