Northland Power (TSE:NPI) Price Target Lowered to C$29.00 at CIBC

Northland Power (TSE:NPI) had its target price cut by CIBC from C$30.00 to C$29.00 in a report released on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the solar energy provider’s stock.

Other analysts have also recently issued research reports about the company. Raymond James lowered their price target on Northland Power from C$35.00 to C$32.00 and set a strong-buy rating on the stock in a report on Friday, February 23rd. National Bankshares upped their price objective on shares of Northland Power from C$32.00 to C$34.00 and gave the company an outperform rating in a research note on Tuesday, January 9th. Finally, BMO Capital Markets reduced their target price on Northland Power from C$31.00 to C$30.00 and set an outperform rating on the stock in a research note on Thursday, February 22nd. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Northland Power presently has a consensus rating of Buy and an average price target of C$32.13.

Northland Power Stock Performance

Shares of NPI opened at C$21.12 on Friday. The stock has a 50 day moving average of C$22.68 and a 200 day moving average of C$22.80. The company has a current ratio of 1.13, a quick ratio of 1.23 and a debt-to-equity ratio of 165.58. The company has a market capitalization of C$5.40 billion, a price-to-earnings ratio of -29.33, a PEG ratio of 0.71 and a beta of 0.45. Northland Power has a 12 month low of C$19.36 and a 12 month high of C$34.14.

Northland Power (TSE:NPI) last issued its quarterly earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) EPS for the quarter, missing analysts’ consensus estimates of C$0.43 by C($0.92). The firm had revenue of C$626.22 million for the quarter, compared to analysts’ expectations of C$614.15 million. Northland Power had a negative net margin of 7.85% and a negative return on equity of 2.09%. As a group, sell-side analysts forecast that Northland Power will post 1.1793651 earnings per share for the current year.

Northland Power Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.68%. Northland Power’s dividend payout ratio is currently -166.67%.

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.