Northland Power Inc. (TSE:NPI) Receives C$31.18 Average Price Target from Brokerages

Northland Power Inc. (TSE:NPI) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$31.00.

Several equities analysts have recently issued reports on the company. TD Securities upped their target price 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. Raymond James lowered Northland Power from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from C$32.00 to C$30.00 in a research report on Thursday, April 25th. CIBC increased their price target on shares of Northland Power from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Desjardins raised their price objective on shares of Northland Power from C$27.00 to C$29.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Scotiabank boosted their target price on shares of Northland Power from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 12th.

Northland Power Stock Down 0.7 %

NPI opened at C$22.30 on Friday. Northland Power has a fifty-two week low of C$19.36 and a fifty-two week high of C$26.19. The firm has a market capitalization of C$5.72 billion, a P/E ratio of -31.86, a PEG ratio of 0.71 and a beta of 0.46. The company’s 50-day moving average is C$23.53 and its 200 day moving average is C$23.07. The company has a debt-to-equity ratio of 164.02, a current ratio of 1.16 and a quick ratio of 1.23.

Northland Power Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.38%. Northland Power’s payout ratio is currently -171.43%.

Northland Power Company Profile

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.