CIBC Cuts Northland Power (TSE:NPI) Price Target to C$29.00

Northland Power (TSE:NPI) had its price objective reduced by CIBC from C$31.00 to C$29.00 in a research note published on Wednesday morning,BayStreet.CA reports.

Separately, Raymond James raised Northland Power to a “moderate buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$29.86.

Northland Power Stock Performance

TSE:NPI opened at C$18.27 on Wednesday. The firm has a market capitalization of C$4.71 billion, a PE ratio of 76.13, a price-to-earnings-growth ratio of 0.71 and a beta of 0.47. The company has a debt-to-equity ratio of 166.53, a current ratio of 0.86 and a quick ratio of 1.23. The business’s fifty day moving average price is C$19.41 and its 200 day moving average price is C$21.54. Northland Power has a 12 month low of C$17.68 and a 12 month high of C$25.36.

Northland Power Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend was Friday, November 29th. Northland Power’s payout ratio is currently 500.00%.

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.