Northland Power Inc. (TSE:NPI) Given Average Recommendation of “Buy” by Brokerages

Northland Power Inc. (TSE:NPI) has been given a consensus rating of “Buy” by the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$31.79.

Several research firms have recently commented on NPI. National Bankshares boosted 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 report on Tuesday, January 9th. Raymond James lowered Northland Power from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from C$32.00 to C$30.00 in a research report on Thursday, April 25th. BMO Capital Markets reduced their price target on Northland Power from C$31.00 to C$30.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Desjardins dropped their price objective on Northland Power from C$29.00 to C$27.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, CIBC cut their price objective on shares of Northland Power from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th.

Northland Power Price Performance

TSE:NPI opened at C$21.55 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.23 and a debt-to-equity ratio of 165.58. Northland Power has a 1-year low of C$19.36 and a 1-year high of C$32.60. The business’s fifty day moving average price is C$22.18 and its 200 day moving average price is C$22.75. The firm has a market capitalization of C$5.51 billion, a price-to-earnings ratio of -29.93, a PEG ratio of 0.71 and a beta of 0.45.

Northland Power (TSE:NPI) last posted its quarterly earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) EPS for the quarter, missing the consensus estimate of C$0.43 by C($0.92). The company had revenue of C$626.22 million for the quarter, compared to analyst estimates of C$614.15 million. Northland Power had a negative return on equity of 2.09% and a negative net margin of 7.85%. On average, sell-side analysts forecast that Northland Power will post 1.1793651 earnings per share for the current fiscal year.

Northland Power Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend is Monday, April 29th. Northland Power’s dividend payout ratio is currently -166.67%.

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.