Northland Power (TSE:NPI) Given New C$28.00 Price Target at Scotiabank

Northland Power (TSE:NPI) had its price objective hoisted by Scotiabank from C$27.00 to C$28.00 in a report published on Wednesday, BayStreet.CA reports. They currently have a sector perform rating on the solar energy provider’s stock.

Other equities research analysts have also issued reports about the company. CIBC raised their price target on Northland Power from C$30.00 to C$31.00 and gave the stock an outperform rating in a research note on Wednesday. BMO Capital Markets reduced their price objective on Northland Power from C$31.00 to C$30.00 and set an outperform rating on the stock in a report on Thursday, February 22nd. TD Securities lifted their price target on Northland Power from C$27.00 to C$28.00 and gave the company a buy rating in a report on Friday, May 17th. National Bankshares lifted their price target on Northland Power from C$32.00 to C$34.00 and gave the company an outperform rating in a report on Tuesday, May 28th. Finally, Raymond James downgraded 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 report on Thursday, April 25th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of C$31.42.

Northland Power Price Performance

Shares of Northland Power stock opened at C$23.88 on Wednesday. The stock’s 50-day simple moving average is C$22.60 and its 200-day simple moving average is C$23.17. Northland Power has a 52 week low of C$19.36 and a 52 week high of C$27.81. The company has a market capitalization of C$6.12 billion, a price-to-earnings ratio of -34.11, a PEG 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 (TSE:NPI) last posted its earnings results on Wednesday, May 15th. The solar energy provider reported C$0.29 EPS for the quarter, missing analysts’ consensus estimates of C$0.55 by C($0.26). Northland Power had a negative return on equity of 1.15% and a negative net margin of 7.16%. The firm had revenue of C$754.92 million during the quarter, compared to analysts’ expectations of C$684.27 million. As a group, analysts expect 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 given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, June 28th. Northland Power’s dividend payout ratio is currently -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.