Brokerages Set Northland Power Inc. (TSE:NPI) Target Price at C$27.25

Northland Power Inc. (TSE:NPI) has been given an average rating of “Buy” by the five brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$27.25.

A number of equities research analysts recently weighed in on the stock. Cormark lowered shares of Northland Power from a “moderate buy” rating to a “hold” rating in a report on Thursday, May 15th. National Bank Financial upgraded shares of Northland Power to a “strong-buy” rating in a report on Sunday, June 8th. Scotiabank upgraded shares of Northland Power from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$25.00 to C$26.00 in a report on Thursday, May 22nd. Finally, CIBC boosted their price target on shares of Northland Power from C$28.00 to C$29.00 in a report on Monday, July 21st.

Northland Power Trading Up 0.7%

Shares of NPI opened at C$22.95 on Monday. Northland Power has a 1-year low of C$16.14 and a 1-year high of C$24.25. The company has a 50-day moving average of C$21.87 and a 200 day moving average of C$19.76. The firm has a market capitalization of C$6.02 billion, a price-to-earnings ratio of -42.05, a PEG ratio of 0.71 and a beta of 0.47. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23.

Northland Power Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Thursday, July 31st. Northland Power’s payout ratio is currently -219.84%.

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.