Raymond James Lowers Northland Power (TSE:NPI) to Outperform

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 target on the solar energy provider’s stock, down from their previous price target 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.

Several other analysts have also recently commented on NPI. CIBC decreased their price objective on shares of 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. National Bankshares lifted 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 note on Tuesday, January 9th. Finally, BMO Capital Markets decreased their target price on shares of Northland Power from C$31.00 to C$30.00 and set an outperform rating for the company in a research note on Thursday, February 22nd. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Northland Power has an average rating of Buy and a consensus price target of C$31.96.

Northland Power Stock Down 0.8 %

TSE:NPI opened at C$20.50 on Thursday. The company has a market cap of C$5.24 billion, a PE ratio of -28.47, a P/E/G ratio of 0.71 and a beta of 0.45. Northland Power has a twelve month low of C$19.36 and a twelve month high of C$33.80. The company has a current ratio of 1.13, a quick ratio of 1.23 and a debt-to-equity ratio of 165.58. The company’s 50 day moving average is C$22.47 and its two-hundred day moving average is C$22.79.

Northland Power (TSE:NPI) last announced its quarterly earnings data 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 net margin of 7.85% and a negative return on equity of 2.09%. The business had revenue of C$626.22 million for the quarter, compared to analyst estimates of C$614.15 million. Analysts anticipate that Northland Power will post 1.1793651 EPS for the current year.

Northland Power Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend is Monday, April 29th. Northland Power’s payout ratio is -166.67%.

Northland Power Company Profile

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.