Northland Power Inc. (TSE:NPI) Director John Wycliffe Brace Sells 121,600 Shares

Northland Power Inc. (TSE:NPI) Director John Wycliffe Brace sold 121,600 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$25.52, for a total value of C$3,102,806.40. Following the completion of the transaction, the director now owns 502,026 shares of the company’s stock, valued at C$12,809,946.43.

NPI stock traded down C$0.04 during trading on Thursday, hitting C$25.68. 557,775 shares of the company traded hands, compared to its average volume of 620,352. The stock’s 50-day moving average is C$25.39. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 491.00. The firm has a market capitalization of $4.56 billion and a P/E ratio of 15.71. Northland Power Inc. has a 1 year low of C$19.91 and a 1 year high of C$26.32.

Northland Power (TSE:NPI) last announced its quarterly earnings results on Wednesday, May 8th. The solar energy provider reported C$0.78 earnings per share for the quarter, beating the consensus estimate of C$0.45 by C$0.33. The company had revenue of C$498.54 million for the quarter, compared to analysts’ expectations of C$473.60 million. Research analysts predict that Northland Power Inc. will post 2.0799999 earnings per share for the current year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Tuesday, July 30th. Northland Power’s dividend payout ratio (DPR) is presently 73.89%.

NPI has been the topic of several recent research reports. Raymond James restated an “average” rating and set a $4.50 price target on shares of John Hancock Financial Opprts Fund in a report on Thursday, May 9th. TD Securities lowered Turquoise Hill Resources from a “buy” rating to a “speculative buy” rating and reduced their target price for the stock from C$4.00 to C$2.25 in a research note on Wednesday. BMO Capital Markets reissued a “buy” rating on shares of Gran Tierra Energy in a research report on Wednesday, June 26th. National Bank Financial increased their price target on TransAlta Renewables from C$13.00 to C$13.25 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada reaffirmed a “sell” rating on shares of CI Financial in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of C$27.64.

About Northland Power

Northland Power Inc develops, builds, owns, and operates clean and green power projects primarily in Canada and Europe. The company produces electricity from renewable resources, such as wind, solar, or hydro power, as well as clean burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.

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