Northland Power (TSE:NPI) Upgraded to “Strong-Buy” at TD Securities

TD Securities upgraded shares of Northland Power (TSE:NPI) from a hold rating to a strong-buy rating in a research report released on Friday morning,Zacks.com reports.

NPI has been the subject of several other reports. Scotia increased their price objective on shares of Northland Power from C$23.00 to C$25.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. National Bank Financial boosted their target price on Northland Power from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Raymond James Financial upped their target price on Northland Power from C$25.50 to C$26.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. ATB Cormark Capital Markets increased their price target on Northland Power from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday. Finally, TD upgraded Northland Power from a “hold” rating to a “buy” rating and set a C$25.00 price target on the stock in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Northland Power currently has an average rating of “Moderate Buy” and an average target price of C$24.90.

Northland Power Stock Performance

NPI stock opened at C$21.58 on Friday. The company has a 50-day simple moving average of C$22.00 and a 200 day simple moving average of C$22.00. The company has a market capitalization of C$5.64 billion, a P/E ratio of -37.86, a PEG ratio of 0.71 and a beta of 0.88. The company has a quick ratio of 1.23, a current ratio of 1.16 and a debt-to-equity ratio of 168.64. Northland Power has a fifty-two week low of C$15.96 and a fifty-two week high of C$25.99.

Northland Power (TSE:NPI) last released its earnings results on Thursday, August 13th. The solar energy provider reported C($0.24) EPS for the quarter. Northland Power had a negative net margin of 5.52% and a negative return on equity of 3.45%. The company had revenue of C$2.35 million for the quarter.

Northland Power Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 3.3%. Northland Power’s dividend payout ratio (DPR) is -182.46%.

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. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.