Northland Power (TSE:NPI – Free Report) had its price objective increased by CIBC from C$30.00 to C$31.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the solar energy provider’s stock.
A number of other equities analysts have also weighed in on the company. National Bankshares increased their price target on Northland Power from C$32.00 to C$34.00 and gave the company an outperform rating in a research report on Tuesday, May 28th. Scotiabank upgraded Northland Power to a hold rating in a research report on Thursday, May 16th. BMO Capital Markets reduced their price objective on Northland Power from C$31.00 to C$30.00 and set an outperform rating for the company in a research note on Thursday, February 22nd. Desjardins increased their price objective on Northland Power from C$27.00 to C$29.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Finally, Raymond James downgraded Northland Power from a strong-buy rating to an outperform rating and reduced their price objective for the stock from C$32.00 to C$30.00 in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Northland Power presently has an average rating of Moderate Buy and a consensus price target of C$31.42.
View Our Latest Research Report on NPI
Northland Power Trading Down 1.6 %
Northland Power (TSE:NPI – Get Free Report) last released its quarterly earnings results on Wednesday, May 15th. The solar energy provider reported C$0.29 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.55 by C($0.26). Northland Power had a negative net margin of 7.16% and a negative return on equity of 1.15%. The company had revenue of C$754.92 million during the quarter, compared to analyst estimates of C$684.27 million. On average, sell-side analysts expect that Northland Power will post 1.3008658 earnings per share for the current fiscal year.
Northland Power Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid 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 is Friday, June 28th. Northland Power’s dividend payout ratio (DPR) is presently -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.
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