Northland Power Inc. (TSE:NPI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Northland Power Inc. (TSE:NPI) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$31.42.

Several brokerages recently weighed in on NPI. Raymond James lowered shares of Northland Power from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from C$32.00 to C$30.00 in a research report on Thursday, April 25th. National Bankshares lifted their price target on shares of Northland Power from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, May 28th. Scotiabank lifted their price target on shares of Northland Power from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 12th. CIBC lifted their price target on shares of Northland Power from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Finally, TD Securities lifted their price target on shares of Northland Power from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Friday, May 17th.

Northland Power Price Performance

TSE NPI opened at C$23.64 on Thursday. The company has a 50 day simple moving average of C$22.88 and a 200-day simple moving average of C$23.26. The company has a debt-to-equity ratio of 164.02, a current ratio of 1.16 and a quick ratio of 1.23. The firm has a market capitalization of C$6.06 billion, a price-to-earnings ratio of -33.77, a price-to-earnings-growth ratio of 0.71 and a beta of 0.44. Northland Power has a 52-week low of C$19.36 and a 52-week high of C$27.72.

Northland Power (TSE:NPI) last posted its quarterly earnings results on Wednesday, May 15th. The solar energy provider reported C$0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.55 by C($0.26). The company had revenue of C$754.92 million during the quarter, compared to analysts’ expectations of C$684.27 million. Northland Power had a negative return on equity of 1.15% and a negative net margin of 7.16%. Equities research analysts predict that Northland Power will post 1.3008658 earnings per share for the current fiscal year.

Northland Power Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.20 annualized dividend and a dividend yield of 5.08%. Northland Power’s payout ratio is -171.43%.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in Canada, Netherlands, Germany, Spain, Colombia, and internationally. The company produces electricity from renewable resources, such as wind and solar, as well as natural gas for sale under power purchase agreements and other revenue arrangements.