Northland Power (TSE:NPI) Price Target Raised to C$39.00

Northland Power (TSE:NPI) had its price objective raised by TD Securities from C$35.00 to C$39.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the solar energy provider’s stock.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets upped their target price on shares of Northland Power from C$33.00 to C$36.00 in a report on Thursday, June 25th. National Bank Financial increased their price target on shares of Northland Power from C$32.50 to C$35.00 and gave the stock an outperform rating in a report on Thursday, June 4th. Raymond James increased their price target on shares of Northland Power from C$30.00 to C$33.00 and gave the stock an outperform rating in a report on Sunday, May 17th. Finally, CIBC increased their price target on shares of Northland Power from C$32.00 to C$33.00 in a report on Sunday, May 17th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of C$34.83.

Shares of TSE:NPI opened at C$34.46 on Monday. The company has a 50-day simple moving average of C$32.35 and a 200-day simple moving average of C$29.77. Northland Power has a one year low of C$20.52 and a one year high of C$35.25. The company has a debt-to-equity ratio of 466.27, a quick ratio of 0.82 and a current ratio of 1.09. The stock has a market capitalization of $6.95 billion and a price-to-earnings ratio of 17.73.

Northland Power (TSE:NPI) last announced its earnings results on Wednesday, May 13th. The solar energy provider reported C$0.70 EPS for the quarter, beating analysts’ consensus estimates of C$0.52 by C$0.18. The business had revenue of C$667.70 million during the quarter, compared to analysts’ expectations of C$647.00 million. As a group, research analysts forecast that Northland Power will post 1.8899999 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.48%. Northland Power’s dividend payout ratio (DPR) is presently 61.73%.

In other Northland Power news, Director John Wycliffe Brace sold 226,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of C$33.01, for a total value of C$7,461,277.00. Following the completion of the transaction, the director now directly owns 226,026 shares of the company’s stock, valued at C$7,462,135.38.

Northland Power Company Profile

Northland Power Inc develops, builds, owns, and operates clean and green power projects primarily in Canada and Europe. The company produces electricity from renewable resources, such as wind, solar, or hydro power, as well as clean burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.

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Analyst Recommendations for Northland Power (TSE:NPI)

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