Northland Power Inc. (TSE:NPI) Plans Monthly Dividend of $0.06

Northland Power Inc. (TSE:NPI) declared a monthly dividend on Friday, October 30th. Investors of record on Monday, November 16th will be paid a dividend of $0.06 per share by the solar energy provider on Monday, November 16th. This represents a $0.72 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, October 30th.

Northland Power Stock Up 1.7%

Shares of TSE:NPI opened at C$22.00 on Wednesday. The firm has a market capitalization of C$5.75 billion, a PE ratio of -39.29, a price-to-earnings-growth ratio of 0.71 and a beta of 0.59. Northland Power has a 1 year low of C$15.96 and a 1 year high of C$25.99. The company has a debt-to-equity ratio of 164.38, a current ratio of 1.04 and a quick ratio of 1.23. The firm’s 50-day moving average is C$21.71 and its two-hundred day moving average is C$21.74.

Northland Power (TSE:NPI) last posted its quarterly earnings data on Thursday, August 13th. The solar energy provider reported C($0.24) EPS for the quarter. Northland Power had a negative net margin of 5.48% and a negative return on equity of 3.46%. The business had revenue of C$512.21 million during the quarter.

Wall Street Analysts Forecast Growth

NPI has been the subject of several recent research reports. ATB Cormark Capital Markets raised their price target on shares of Northland Power from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Desjardins dropped their price target on shares of Northland Power from C$23.00 to C$22.00 and set a “hold” rating for the company in a research note on Wednesday, July 22nd. TD Securities upgraded Northland Power from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Finally, TD raised Northland Power from a “hold” rating to a “buy” rating and set a C$25.00 target price for the company in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Northland Power has an average rating of “Moderate Buy” and an average target price of C$24.90.

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.