Northland Power (TSE:NPI) Hits New 1-Year High - Here's Why

Key Points

• Northland Power Inc. shares reached a new 52-week high of C$23.87, indicating strong market performance with a trading volume of 952,857 shares.
• Wall Street analysts have mixed ratings on the stock, with one strong-buy rating, four buy ratings, and an average price target of C$27.08, despite one recent downgrade.
• The company announced a monthly dividend of $0.10, representing a 5.1% dividend yield, although its dividend payout ratio is notably high at -571.43%.

Northland Power Inc. (TSE:NPI - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as C$23.87 and last traded at C$23.70, with a volume of 952857 shares. The stock had previously closed at C$23.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NPI shares. Raymond James Financial lowered their price target on Northland Power from C$29.00 to C$28.00 and set an "outperform" rating on the stock in a research report on Friday, August 15th. CIBC boosted their price target on shares of Northland Power from C$28.00 to C$29.00 in a research report on Monday, July 21st. Finally, National Bank Financial upgraded shares of Northland Power to a "strong-buy" rating in a research report on Sunday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of C$27.08.

Northland Power Trading Up 1.7%

The company's 50-day moving average is C$22.47 and its 200 day moving average is C$21.09. 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 market cap of C$6.20 billion, a PE ratio of -112.86, a P/E/G ratio of 0.71 and a beta of 0.88.

Northland Power Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were given a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, July 31st. Northland Power's dividend payout ratio (DPR) is -571.43%.

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.

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