Northland Power (OTCMKTS:NPIFF) Shares Down 6.4% - Here's What Happened

Key Points

• Northland Power shares fell by 6.4%, trading at $15.03, with a significant decline in trading volume to approximately 8,436 shares compared to an average of 70,828 shares.
• Brokerages have recently upgraded Northland Power's ratings, with Scotiabank moving it from "sector perform" to "outperform" and BMO Capital Markets reaffirming an "outperform" rating.
• The company announced an increase in its dividend payment to $0.073 per share, effective August 15th, marking a boost from the previous dividend of $0.07, despite a payout ratio of -275.23%.

Northland Power, Inc. (OTCMKTS:NPIFF - Get Free Report) shares were down 6.4% on Thursday . The company traded as low as $15.03 and last traded at $15.03. Approximately 8,436 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 70,828 shares. The stock had previously closed at $16.06.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NPIFF. Scotiabank raised Northland Power from a "sector perform" rating to an "outperform" rating in a research note on Thursday, May 15th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Northland Power in a research note on Thursday.

Northland Power Stock Performance

The business's 50 day moving average is $16.22 and its 200 day moving average is $14.35. The stock has a market cap of $3.95 billion and a price-to-earnings ratio of -47.77.

Northland Power Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.073 per share. This is a boost from Northland Power's previous dividend of $0.07. This represents a yield of 522.0%. The ex-dividend date of this dividend is Thursday, July 31st. Northland Power's payout ratio is currently -275.23%.

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.

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