Brokerages Set Northland Power Inc. (TSE:NPI) Target Price at C$31.42

Shares of Northland Power Inc. (TSE:NPI) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$31.42.

A number of analysts have weighed in on the company. Raymond James cut Northland Power from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from C$32.00 to C$30.00 in a research note on Thursday, April 25th. National Bankshares upped their price objective on shares of Northland Power from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. TD Securities lifted their price objective on shares of Northland Power from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Desjardins increased their price objective on Northland Power from C$27.00 to C$29.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, CIBC upped their price objective on shares of Northland Power from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th.

Northland Power Stock Performance

TSE:NPI opened at C$23.52 on Thursday. The company has a market cap of C$6.03 billion, a price-to-earnings ratio of -33.60, a price-to-earnings-growth ratio of 0.71 and a beta of 0.44. The company has a quick ratio of 1.23, a current ratio of 1.16 and a debt-to-equity ratio of 164.02. Northland Power has a 52 week low of C$19.36 and a 52 week high of C$27.72. The company has a fifty day simple moving average of C$23.04 and a two-hundred day simple moving average of C$23.28.

Northland Power (TSE:NPI) last released its earnings results on Wednesday, May 15th. The solar energy provider reported C$0.29 EPS for the quarter, missing the consensus estimate of C$0.55 by C($0.26). The company had revenue of C$754.92 million for the quarter, compared to analyst estimates of C$684.27 million. Northland Power had a negative return on equity of 1.15% and a negative net margin of 7.16%. As a group, equities analysts anticipate 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. Investors of record on Monday, July 15th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Friday, June 28th. Northland Power’s dividend payout ratio is currently -171.43%.

Northland Power Company Profile

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.