Northland Power (TSE:NPI) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Northland Power shares rose above their 200-day moving average, reaching C$22.13 and closing at C$22.00, up 1.7%. The stock’s market capitalization is approximately C$5.75 billion.
• Analyst sentiment improved, with TD Securities upgrading the stock to “strong buy” and TD upgrading it to “buy.” Northland Power has a consensus rating of “Moderate Buy” and an average price target of C$24.90.
• The company declared a monthly dividend of C$0.06 per share, equivalent to C$0.72 annually and a 3.3% yield. However, Northland reported a quarterly loss of C$0.24 per share and negative net margins.

Northland Power Inc. (TSE:NPI - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$21.74 and traded as high as C$22.13. Northland Power shares last traded at C$22.00, with a volume of 435,575 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on NPI. TD Securities raised shares of Northland Power from a "hold" rating to a "strong-buy" rating in a report on Friday, August 14th. ATB Cormark Capital Markets increased their price objective on Northland Power from C$27.00 to C$28.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Desjardins reduced their price objective on Northland Power from C$23.00 to C$22.00 and set a "hold" rating for the company in a report on Wednesday, July 22nd. Finally, TD raised Northland Power from a "hold" rating to a "buy" rating and set a C$25.00 target price for the company in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Northland Power presently has an average rating of "Moderate Buy" and a consensus target price of C$24.90.

Northland Power Stock Up 1.7%

The stock's 50 day moving average is C$21.71 and its 200 day moving average is C$21.74. The company has a market capitalization of C$5.75 billion, a PE ratio of -39.29, a PEG ratio of 0.71 and a beta of 0.59. The company has a debt-to-equity ratio of 164.38, a quick ratio of 1.23 and a current ratio of 1.04.

Northland Power (TSE:NPI - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The solar energy provider reported C($0.24) earnings per share for the quarter. Northland Power had a negative net margin of 5.48% and a negative return on equity of 3.46%. The business had revenue of C$512.21 million during the quarter.

Northland Power Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be given a $0.06 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.72 annualized dividend and a dividend yield of 3.3%. Northland Power's payout ratio is -164.29%.

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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