Northland Power (TSE:NPI) PT Lowered to C$29.00

Northland Power (TSE:NPI) had its price objective decreased by CIBC from C$30.00 to C$29.00 in a research note published on Friday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the solar energy provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Raymond James dropped their price target on shares of Northland Power from C$35.00 to C$32.00 and set a strong-buy rating on the stock in a research note on Friday, February 23rd. National Bankshares upped their price target on shares of Northland Power from C$32.00 to C$34.00 and gave the stock an outperform rating in a research note on Tuesday, January 9th. Finally, BMO Capital Markets reduced their target price on shares of 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. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of C$32.13.

Northland Power Stock Performance

Shares of NPI opened at C$21.12 on Friday. The company’s 50 day simple moving average is C$22.68 and its 200 day simple moving average is C$22.80. The company has a debt-to-equity ratio of 165.58, a quick ratio of 1.23 and a current ratio of 1.13. The company has a market capitalization of C$5.40 billion, a price-to-earnings ratio of -29.33, a PEG ratio of 0.71 and a beta of 0.45. Northland Power has a 1 year low of C$19.36 and a 1 year high of C$34.14.

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

Northland Power Announces Dividend

The business 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 $0.10 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.20 dividend on an annualized basis and a yield of 5.68%. Northland Power’s dividend payout ratio is presently -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.