Desjardins Cuts Northland Power (TSE:NPI) Price Target to C$22.00

Northland Power (TSE:NPI) had its price target cut by Desjardins from C$23.00 to C$22.00 in a research report report published on Wednesday,BayStreet.CA reports. They currently have a hold rating on the solar energy provider’s stock.

NPI has been the subject of several other reports. Scotia raised their target price on shares of Northland Power from C$23.00 to C$25.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. TD upped their price target on shares of Northland Power from C$24.00 to C$25.00 and gave the company a “hold” rating in a report on Friday, May 15th. Canadian Imperial Bank of Commerce increased their price target on shares of Northland Power from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research report on Friday, March 27th. National Bank Financial raised their price objective on shares of Northland Power from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Raymond James Financial raised their price objective on shares of Northland Power from C$25.50 to C$26.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$24.70.

Northland Power Trading Down 0.0%

Shares of NPI stock opened at C$22.08 on Wednesday. Northland Power has a fifty-two week low of C$15.96 and a fifty-two week high of C$25.99. The stock has a market cap of C$5.77 billion, a P/E ratio of -38.74, a P/E/G ratio of 0.71 and a beta of 0.86. The business has a fifty day simple moving average of C$22.50 and a 200-day simple moving average of C$21.70. The company has a quick ratio of 1.23, a current ratio of 1.16 and a debt-to-equity ratio of 168.64.

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 (EPS) for the quarter. Northland Power had a negative return on equity of 3.45% and a negative net margin of 5.52%.The business had revenue of C$776.97 million during the quarter.

Northland Power Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were given a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. Northland Power’s dividend payout ratio (DPR) 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.