Northland Power (TSE:NPI) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Northland Power Inc. (TSE:NPI)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$19.72 and traded as high as C$20.19. Northland Power shares last traded at C$20.06, with a volume of 3,082,608 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Securities upped their target price on shares of Northland Power from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Scotiabank dropped their price objective on shares of Northland Power from C$28.00 to C$25.00 in a report on Thursday, January 30th. National Bankshares reduced their target price on Northland Power from C$34.00 to C$32.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. CIBC dropped their price target on Northland Power from C$29.00 to C$28.00 in a research note on Friday, February 28th. Finally, Cormark decreased their price objective on Northland Power from C$25.00 to C$23.50 in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$27.21.

Northland Power Price Performance

The firm has a market capitalization of C$5.26 billion, a P/E ratio of -36.75, a price-to-earnings-growth ratio of 0.71 and a beta of 0.47. The company has a current ratio of 1.17, a quick ratio of 1.23 and a debt-to-equity ratio of 181.28. The firm has a 50 day moving average price of C$18.23 and a 200-day moving average price of C$19.72.

Northland Power Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a yield of 5.98%. Northland Power’s dividend payout ratio is presently -219.84%.

About Northland Power

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.