Northland Power (TSE:NPI) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Northland Power’s share price moved above its 200-day moving average, trading as high as C$22.11 and last changing hands at C$22.05 on Monday.
• Analysts remain mixed on the stock: several firms raised price targets, but the overall consensus rating is still Hold with an average target price of C$24.80.
• The company recently reported quarterly earnings of C$0.33 per share on revenue of C$776.97 million and also paid a monthly dividend of $0.06, implying a 3.3% yield.

Northland Power Inc. (TSE:NPI - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$21.62 and traded as high as C$22.11. Northland Power shares last traded at C$22.05, with a volume of 682,646 shares changing hands.

Wall Street Analyst Weigh In

NPI has been the subject of several recent research reports. Raymond James Financial increased their price objective on Northland Power from C$25.50 to C$26.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Scotia upped their target price on Northland Power from C$23.00 to C$25.00 and gave the stock a "sector perform" rating in a research report on Friday, May 15th. TD raised their price target on Northland Power from C$24.00 to C$25.00 and gave the stock a "hold" rating in a research note on Friday, May 15th. Desjardins lowered their price target on Northland Power from C$24.00 to C$23.00 and set a "hold" rating for the company in a research note on Friday, May 15th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Northland Power from C$24.00 to C$26.00 and gave the stock an "outperform" rating in a report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$24.80.

Northland Power Stock Performance

The company has a market cap of C$5.77 billion, a P/E ratio of -38.68, a P/E/G ratio of 0.71 and a beta of 0.86. The firm has a 50 day moving average price of C$22.59 and a 200-day moving average price of C$21.62. The company has a debt-to-equity ratio of 168.64, a quick ratio of 1.23 and a current ratio of 1.16.

Northland Power (TSE:NPI - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The solar energy provider reported C$0.33 earnings per share for the quarter. Northland Power had a negative return on equity of 3.45% and a negative net margin of 5.52%.The business had revenue of C$776.97 million for the quarter.

Northland Power Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. Northland Power's dividend payout ratio (DPR) 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.

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