Northland Power (TSE:NPI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Northland Power Inc. (TSE:NPI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$20.86 and traded as high as C$23.11. Northland Power shares last traded at C$22.87, with a volume of 824,091 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on NPI. Canadian Imperial Bank of Commerce upped their target price on shares of Northland Power from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research note on Friday, March 27th. National Bank Financial upped their target price on shares of Northland Power from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Scotia upped their target price on shares of Northland Power from C$23.00 to C$25.00 and gave the company a “sector perform” rating in a research note on Friday, May 15th. ATB Cormark Capital Markets upped their target price on shares of Northland Power from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Raymond James Financial upped their target price on shares of Northland Power from C$25.50 to C$26.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Northland Power has an average rating of “Hold” and a consensus price target of C$24.80.

Northland Power Trading Up 0.6%

The company has a market cap of C$5.98 billion, a price-to-earnings ratio of -40.12, a PEG ratio of 0.71 and a beta of 0.81. The company has a debt-to-equity ratio of 168.64, a quick ratio of 1.23 and a current ratio of 1.16. The business’s 50 day moving average price is C$23.17 and its 200-day moving average price is C$20.86.

Northland Power (TSE:NPI) last announced its quarterly earnings data on Thursday, May 14th. The solar energy provider reported C$0.33 earnings per share (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$776.97 million during the quarter.

Northland Power Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. Northland Power’s dividend payout ratio is currently -182.46%.

Northland Power Company Profile

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.