Northland Power (TSE:NPI) Given New C$27.00 Price Target at Desjardins

Northland Power (TSE:NPI) had its price target reduced by Desjardins from C$29.00 to C$27.00 in a research report report published on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the solar energy provider’s stock.

A number of other analysts have also recently issued reports on NPI. BMO Capital Markets reduced their price objective on Northland Power from C$31.00 to C$30.00 and set an outperform rating for the company in a research report on Thursday, February 22nd. Raymond James lowered Northland Power from a strong-buy rating to an outperform rating and reduced their price target for the company from C$32.00 to C$30.00 in a report on Thursday, April 25th. CIBC lowered their price target on Northland Power from C$30.00 to C$29.00 and set an outperform rating for the company in a research note on Friday, April 19th. Finally, National Bankshares raised 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 report on Tuesday, January 9th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of C$31.79.

Northland Power Price Performance

TSE NPI opened at C$21.63 on Tuesday. The company has a debt-to-equity ratio of 165.58, a current ratio of 1.13 and a quick ratio of 1.23. The firm has a market capitalization of C$5.53 billion, a price-to-earnings ratio of -29.69, a price-to-earnings-growth ratio of 0.71 and a beta of 0.45. The company has a 50 day simple moving average of C$22.25 and a 200-day simple moving average of C$22.75. Northland Power has a 52-week low of C$19.36 and a 52-week high of C$32.74.

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

Northland Power Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend is Monday, April 29th. Northland Power’s dividend 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.