Raymond James Downgrades Northland Power (TSE:NPI) to Outperform

Raymond James downgraded shares of Northland Power (TSE:NPI) from a strong-buy rating to an outperform rating in a research note published on Thursday, BayStreet.CA reports. The brokerage currently has C$30.00 price objective on the solar energy provider’s stock, down from their prior price objective of C$32.00. Raymond James also issued estimates for Northland Power’s Q1 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.53 EPS and FY2025 earnings at $1.55 EPS.

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets dropped their target price on Northland Power from C$31.00 to C$30.00 and set an outperform rating on the stock in a research report on Thursday, February 22nd. National Bankshares increased their target price on Northland Power from C$32.00 to C$34.00 and gave the stock an outperform rating in a research report on Tuesday, January 9th. Finally, CIBC dropped their target price on Northland Power from C$30.00 to C$29.00 and set an outperform rating on the stock in a research report on Friday, April 19th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of C$31.96.

Northland Power Price Performance

Shares of TSE NPI opened at C$20.50 on Thursday. The stock has a fifty day simple moving average of C$22.47 and a two-hundred day simple moving average of C$22.79. Northland Power has a 1-year low of C$19.36 and a 1-year high of C$33.80. The firm has a market cap of C$5.24 billion, a price-to-earnings ratio of -28.47, a price-to-earnings-growth ratio of 0.71 and a beta of 0.45. The company has a current ratio of 1.13, a quick ratio of 1.23 and a debt-to-equity ratio of 165.58.

Northland Power (TSE:NPI) last announced its quarterly earnings data on Wednesday, February 21st. The solar energy provider reported C($0.49) earnings per share for the quarter, missing the consensus estimate of C$0.43 by C($0.92). Northland Power had a negative net margin of 7.85% and a negative return on equity of 2.09%. The firm had revenue of C$626.22 million for the quarter, compared to the consensus estimate of C$614.15 million. Analysts anticipate that Northland Power will post 1.1793651 earnings per share for the current year.

Northland Power Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.10 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.85%. Northland Power’s dividend payout ratio (DPR) is presently -166.67%.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in Canada, Netherlands, Germany, Spain, Colombia, and internationally. The company produces electricity from renewable resources, such as wind and solar, as well as natural gas for sale under power purchase agreements and other revenue arrangements.