Northland Power Inc. (TSE:NPI) to Issue $0.10 Monthly Dividend

Northland Power Inc. (TSE:NPI) announced a monthly dividend on Thursday, June 13th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.10 per share by the solar energy provider on Monday, July 15th. This represents a $1.20 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, June 28th.

Northland Power Price Performance

NPI stock opened at C$23.88 on Friday. The firm has a 50 day moving average of C$22.57 and a 200-day moving average of C$23.16. The firm has a market capitalization of C$6.12 billion, a P/E ratio of -34.11, a price-to-earnings-growth ratio of 0.71 and a beta of 0.44. Northland Power has a 12 month low of C$19.36 and a 12 month high of C$27.81. The company has a current ratio of 1.16, a quick ratio of 1.23 and a debt-to-equity ratio of 164.02.

Northland Power (TSE:NPI) last announced its quarterly earnings results on Wednesday, May 15th. The solar energy provider reported C$0.29 EPS for the quarter, missing the consensus estimate of C$0.55 by C($0.26). The firm had revenue of C$754.92 million during the quarter, compared to the consensus estimate of C$684.27 million. Northland Power had a negative net margin of 7.16% and a negative return on equity of 1.15%. As a group, sell-side analysts predict that Northland Power will post 1.3008658 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets reduced their target price 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. Desjardins upped their price objective on shares of Northland Power from C$27.00 to C$29.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Raymond James lowered shares of Northland Power from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from C$32.00 to C$30.00 in a research report on Thursday, April 25th. TD Securities boosted their price target on shares of Northland Power from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Scotiabank raised their price objective on shares of Northland Power from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$31.42.

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.