Northland Power (TSE:NPI) Lowered to Outperform at Raymond James

Raymond James downgraded shares of Northland Power (TSE:NPI) from a strong-buy rating to an outperform rating in a research report sent to investors on Thursday, BayStreet.CA reports. They currently have C$30.00 price objective on the solar energy provider’s stock, down from their prior price objective of C$32.00. Raymond James also issued estimates for Northland Power’s Q1 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.53 EPS and FY2025 earnings at $1.55 EPS.

A number of other equities analysts have also recently issued reports on NPI. National Bankshares upped their price objective on Northland Power from C$32.00 to C$34.00 and gave the stock an outperform rating in a report on Tuesday, January 9th. CIBC cut their price objective on Northland Power from C$30.00 to C$29.00 and set an outperform rating for the company in a report on Friday, April 19th. Finally, BMO Capital Markets cut their price objective on Northland Power from C$31.00 to C$30.00 and set an outperform rating for the company in a report on Thursday, February 22nd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of C$31.96.

Northland Power Price Performance

Northland Power stock opened at C$20.67 on Thursday. Northland Power has a 52 week low of C$19.36 and a 52 week high of C$34.14. The business has a 50-day simple moving average of C$22.54 and a 200 day simple moving average of C$22.79. The company has a quick ratio of 1.23, a current ratio of 1.13 and a debt-to-equity ratio of 165.58. The stock has a market cap of C$5.28 billion, a price-to-earnings ratio of -28.71, a PEG ratio of 0.71 and a beta of 0.45.

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

Northland Power Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date is Monday, April 29th. Northland Power’s payout ratio is -166.67%.

About Northland Power

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.