Northland Power (TSE:NPI) Given New C$24.00 Price Target at Desjardins

Northland Power (TSE:NPI) had its price target boosted by Desjardins from C$23.00 to C$24.00 in a research report report published on Friday,BayStreet.CA reports. They currently have a hold rating on the solar energy provider’s stock.

Other research analysts have also recently issued research reports about the stock. TD Securities lifted their price objective on shares of Northland Power from C$21.00 to C$23.00 and gave the company a “hold” rating in a report on Friday, February 27th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Northland Power from C$24.00 to C$26.00 and gave the company an “outperform” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$23.63.

Northland Power Stock Performance

NPI traded down C$0.15 on Friday, reaching C$23.21. The stock had a trading volume of 472,716 shares, compared to its average volume of 1,045,505. Northland Power has a 12-month low of C$15.96 and a 12-month high of C$25.99. The company has a current ratio of 1.07, a quick ratio of 1.23 and a debt-to-equity ratio of 176.80. The business’s 50-day moving average price is C$22.46 and its two-hundred day moving average price is C$20.79. The company has a market cap of C$6.07 billion, a P/E ratio of -35.71, a price-to-earnings-growth ratio of 0.71 and a beta of 0.78.

Northland Power (TSE:NPI) last released its quarterly earnings data on Thursday, February 26th. The solar energy provider reported C$0.93 earnings per share for the quarter. Northland Power had a negative net margin of 6.69% and a negative return on equity of 3.92%. The company had revenue of C$725.26 million during the quarter.

Northland Power Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. Northland Power’s payout ratio is currently -178.46%.

Northland Power Company Profile

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.