Northland Power (TSE:NPI) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Northland Power's share price recently surpassed its 200-day moving average of C$21.59, trading as high as C$25.07 before settling at C$24.61.
• Analysts have mixed views on the stock, with target prices varying from C$27.00 to C$29.00, and a majority rating it as a "Buy."
• The company announced a monthly dividend of $0.10 per share, with an annualized yield of 4.9% despite a negative payout ratio.

Northland Power Inc. (TSE:NPI - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$21.59 and traded as high as C$25.07. Northland Power shares last traded at C$24.61, with a volume of 633,826 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NPI shares. Desjardins dropped their target price on shares of Northland Power from C$28.00 to C$27.00 and set a "buy" rating for the company in a report on Tuesday, October 14th. Raymond James Financial decreased their price target on shares of Northland Power from C$29.00 to C$28.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Finally, CIBC increased their price target on shares of Northland Power from C$28.00 to C$29.00 in a research note on Monday, July 21st. One 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 company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$27.07.

Northland Power Trading Down 1.0%

The company has a market capitalization of C$6.44 billion, a P/E ratio of -117.19, a P/E/G ratio of 0.71 and a beta of 0.85. The stock's 50 day moving average is C$23.02 and its 200-day moving average is C$21.59. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23.

Northland Power Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. Northland Power's dividend payout ratio (DPR) is currently -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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