Northland Power Inc. (TSE:NPI)’s share price traded up 3.8% during mid-day trading on Friday after the company announced a dividend. The stock traded as high as C$22.61 and last traded at C$22.60. 177,787 shares were traded during mid-day trading, a decline of 35% from the average session volume of 271,887 shares. The stock had previously closed at C$21.78.
The newly announced dividend which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.10 per share. This is a positive change from Northland Power’s previous monthly dividend of $0.09. The ex-dividend date is Tuesday, February 27th. This represents a $1.20 annualized dividend and a dividend yield of 5.31%. Northland Power’s payout ratio is presently 71.05%.
Several research analysts have recently commented on NPI shares. National Bank Financial cut their price objective on Northland Power from C$26.00 to C$25.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. TD Securities boosted their price objective on Northland Power from C$27.00 to C$28.00 and gave the company an “action list buy” rating in a research report on Friday, November 10th. Finally, BMO Capital Markets set a C$25.00 target price on Northland Power and gave the company a “market perform” rating in a report on Friday, January 19th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$26.42.
In other Northland Power news, insider Dino Gliosca sold 10,900 shares of Northland Power stock in a transaction on Monday, November 27th. The stock was sold at an average price of C$24.03, for a total transaction of C$261,927.00.
Northland Power Company Profile
Northland Power Inc (Northland) is an independent power producer. The Company develops, finances, builds, owns and operates facilities in Canada and internationally that produce clean and green energy using natural gas, biomass, wind and solar technology. Northland segments include thermal; renewable; managed, which includes management and operations services for Kirkland Lake, Cochrane and Canadian Environmental Energy Corporation (CEEC); offshore wind, including Gemini and Nordsee, and other, which includes investment income and administration of Northland.
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