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Stock Market & Financial Investment News

News Breaks
June 26, 2014
08:46 EDTPEGIPattern Energy acquires controlling interest in El Arrayan wind project in Chile
Pattern Energy Group acquired AEI's 38.5% net ownership interest in the El Array Wind project. The project, which was completed earlier this month and is now fully operational, is located approximately 400 km north of Santiago on the coast of Chile. At 115 MW, El Array Wind is the largest wind power facility in Chile and all of South America. The transaction increases Pattern Energy's ownership in El Array Wind to 70% with Antofagasta Minerals SA owning the remaining 30% minority stake. Pattern Energy paid a $45.25M purchase price to AEI. AEI's proportional share of project debt. Pattern Energy operates the project.
News For PEGI From The Last 14 Days
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April 14, 2015
10:01 EDTPEGIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AB InBev (BUD) initiated with a Neutral at Susquehanna... AMC Networks (AMCX) initiated with an Overweight at Piper Jaffray... Avery Dennison (AVY) initiated with a Hold at BB&T... Boston Beer (SAM) initiated with a Neutral at Susquehanna... Brocade (BRCD) initiated with a Neutral at Wedbush... Bunge (BG) initiated with an Overweight at Stephens... CIRCOR (CIR) initiated with a Speculative Buy at Global Hunter... Cabot Microelectronics (CCMP) initiated with a Buy at BB&T... Canadian Natural (CNQ) initiated with a Buy at GMP Securities... Cenovus Energy (CVE) initiated with a Hold at GMP Securities... China Distance Education (DL) initiated with a Buy at Brean Capital... Coca-Cola Enterprises (CCE) initiated with a Negative at Susquehanna... Coca-Cola (KO) initiated with a Negative at Susquehanna... Constellation Brands (STZ) initiated with a Neutral at Susquehanna... Discover (DFS) initiated with an Outperform at Wells Fargo... Dr Pepper Snapple (DPS) initiated with a Neutral at Susquehanna... Flex Pharma (FLKS) initiated with a Buy at H.C. Wainwright... Flowserve (FLS) initiated with a Neutral at Global Hunter... Goldman Sachs BDC (GSBD) initiated with a Neutral at BofA/Merrill... ITT Corp. (ITT) initiated with an Accumulate at Global Hunter... Intra-Cellular (ITCI) initiated with an Outperform at RBC Capital... Keurig Green Mountain (GMCR) initiated with a Positive at Susquehanna... Microsemi (MSCC) initiated with a Buy at Topeka... Molson Coors (TAP) initiated with a Positive at Susquehanna... Monster Beverage (MNST) initiated with a Neutral at Susquehanna... New Oriental Education (EDU) initiated with a Hold at Brean Capital... OM Group (OMG) initiated with a Buy at BB&T... Pattern Energy (PEGI) initiated with a Buy at Citigroup... Pentair (PNR) initiated with a Neutral at Global Hunter... PepsiCo (PEP) initiated with a Positive at Susquehanna... Ply Gem (PGEM) initiated with an Overweight at KeyBanc... SodaStream (SODA) initiated with a Positive at Susquehanna... Splunk (SPLK) initiated with an Outperform at Baird... SteadyMed (STDY) initiated with an Outperform at JMP Securities... Suncor (SU) initiated with a Hold at GMP Securities... SuperCom (SPCB) initiated with a Buy at B. Riley... TAL Education (XRS) initiated with a Buy at Brean Capital... Tarena (TEDU) initiated with a Buy at Brean Capital... Ulta Salon (ULTA) initiated with a Buy at Evercore ISI... Versartis (VSAR) initiated with a Buy, $50 target at SunTrust... WisdomTree (WETF) initiated with a Market Perform at Keefe Bruyette... uniQure (QURE) initiated with a Buy at Roth Capital.
06:20 EDTPEGIPattern Energy initiated with a Buy at Citigroup
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April 7, 2015
10:05 EDTPEGIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Carnival (CCL) upgraded to Outperform from Market Perform at Wells Fargo... Crown Castle (CCI) upgraded to Buy from Hold at Evercore ISI... Ctrip.com (CTRP) upgraded to Overweight from Neutral at Piper Jaffray... Demandware (DWRE) upgraded to Conviction Buy from Buy at Goldman... FirstEnergy (FE) upgraded at BofA/Merrill... Frontier Communications (FTR) upgraded to Neutral from Underperform at DA Davidson... JPMorgan (JPM) upgraded to Outperform from Market Perform at Bernstein... Pattern Energy (PEGI) upgraded to Outperform from Market Perform at Raymond James... Ralph Lauren (RL) upgraded to Buy from Outperform at CLSA... ResMed (RMD) upgraded to Outperform from Neutral at Credit Suisse... Ryanair (RYAAY) upgraded to Overweight from Neutral at JPMorgan... Splunk (SPLK) upgraded to Overweight from Neutral at Piper Jaffray... Total (TOT) upgraded at RBC Capital... Verifone (PAY) upgraded to Buy from Hold at Stifel... XL Group (XL) upgraded to Buy from Neutral at UBS.
06:53 EDTPEGIPattern Energy upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded Pattern Energy to Outperform and increased its price target to $35 from $31 following the purchase of three wind farms with a combined owned capacity of 360MW. The firm said the assets are high quality and expands Pattern Energy's operations in Kansas and Missouri while increasing annual growth by 10%-12%.
April 6, 2015
06:04 EDTPEGIPattern Energy acquires three wind power facilities for $372M
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06:04 EDTPEGIPattern Energy says Q1 wind power facilities adversely affected by weather
According to Vaisala, average wind conditions across the western United States and Texas were 20% or more below normal for the first quarter of 2015. The low production is primarily the result of unusual weather conditions brought on by particular features of the current El Niņo weather pattern over the Pacific Ocean. Meteorologists also attribute the abnormal wind conditions to the above average winter temperatures in these areas partly caused by the El Niņo weather. Vaisala stated that the observed weather pattern is nothing unusual or outside of the range of the expected after their review of long term global datasets. Consistent with Vaisala's observations, Pattern Energy's Q1 2015 production at its wind power facilities in the western U.S. and Texas have been adversely affected by the El Niņo weather, resulting in a reduction in expected production of approximately 5% of the Company's total annual expected production.
06:03 EDTPEGIPattern Energy agrees to acquire three wind facilities, adding 360MW in capacity
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06:02 EDTPEGIPattern Energy increases CAFD per share growth target to 12%-15%
Pattern Energy announced it has increased its growth target for cash available for distribution per share to a compound annual growth rate of 12%-15% for the next three years.

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