Northland Power (TSE:NPI) Hits New 1-Year High - Time to Buy?

Key Points

• Northland Power Inc. shares reached a new 52-week high of C$25.21 during trading, closing at C$25.15 with a substantial trading volume of 777,385 shares.
• Analysts have varying price targets for the stock, with a consensus rating of "Buy" and an average price target of C$27.07.
• The company recently announced a monthly dividend of $0.10, resulting in a 4.8% annualized yield, despite a negative payout ratio of -571.43%.

Northland Power Inc. (TSE:NPI - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$25.21 and last traded at C$25.15, with a volume of 777385 shares traded. The stock had previously closed at C$24.83.

Analysts Set New Price Targets

NPI has been the subject of a number of research analyst reports. Raymond James Financial cut their price objective on shares of Northland Power from C$29.00 to C$28.00 and set an "outperform" rating for the company in a report on Friday, August 15th. CIBC raised their target price on shares of Northland Power from C$28.00 to C$29.00 in a research note on Monday, July 21st. Finally, Desjardins cut their price objective on Northland Power from C$28.00 to C$27.00 and set a "buy" rating for the company in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$27.07.

Northland Power Trading Up 1.3%

The company has a market cap of C$6.58 billion, a PE ratio of -119.76, a price-to-earnings-growth ratio of 0.71 and a beta of 0.85. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23. The company has a 50-day moving average of C$23.12 and a 200 day moving average of C$21.63.

Northland Power Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were issued a $0.10 dividend. The ex-dividend date was Thursday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. Northland Power's payout ratio 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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