Analysts Set Northland Power Inc. (TSE:NPI) Target Price at C$24.70

Shares of Northland Power Inc. (TSE:NPI) have received an average rating of “Hold” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$24.70.

Several research firms recently commented on NPI. Desjardins reduced their target price on Northland Power from C$23.00 to C$22.00 and set a “hold” rating for the company in a research report on Wednesday, July 22nd. Raymond James Financial raised their price target on Northland Power from C$25.50 to C$26.00 and gave the company an “outperform” rating in a report on Friday, May 15th. TD lifted their price target on Northland Power from C$24.00 to C$25.00 and gave the company a “hold” rating in a research report on Friday, May 15th. National Bank Financial boosted their price objective on Northland Power from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Scotia upped their price objective on shares of Northland Power from C$23.00 to C$25.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th.

Northland Power Stock Up 2.2%

NPI opened at C$21.81 on Friday. The company has a fifty day moving average price of C$22.11 and a 200-day moving average price of C$21.98. The firm has a market capitalization of C$5.70 billion, a P/E ratio of -38.26, a price-to-earnings-growth ratio of 0.71 and a beta of 0.88. The company has a debt-to-equity ratio of 168.64, a current ratio of 1.16 and a quick ratio of 1.23. Northland Power has a one year low of C$15.96 and a one year high of C$25.99.

Northland Power (TSE:NPI) last released its quarterly earnings results on Thursday, May 14th. The solar energy provider reported C$0.33 earnings per share for the quarter. Northland Power had a negative net margin of 5.52% and a negative return on equity of 3.45%. The firm had revenue of C$776.97 million for the quarter.

Northland Power Announces Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Northland Power’s payout ratio is currently -182.46%.

About Northland Power

Northland Power develops, constructs, and operates maintainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company’s largest segment over the long term. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.