Insider Selling: Northland Power Inc. (TSE:NPI) Director Sells 226,000 Shares of Stock

Northland Power Inc. (TSE:NPI) Director John Wycliffe Brace sold 226,000 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of C$33.01, for a total value of C$7,461,277.00. Following the sale, the director now owns 226,026 shares in the company, valued at approximately C$7,462,135.38.

Northland Power stock traded up C$0.32 during midday trading on Tuesday, reaching C$33.74. The stock had a trading volume of 366,481 shares, compared to its average volume of 802,151. Northland Power Inc. has a twelve month low of C$20.52 and a twelve month high of C$34.37. The stock has a market capitalization of $6.62 billion and a PE ratio of 17.19. The company has a debt-to-equity ratio of 466.27, a quick ratio of 0.82 and a current ratio of 1.09. The stock’s 50-day simple moving average is C$31.69 and its 200 day simple moving average is C$29.48.

Northland Power (TSE:NPI) last issued its earnings results on Wednesday, May 13th. The solar energy provider reported C$0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.52 by C$0.18. The firm had revenue of C$667.70 million during the quarter, compared to analyst estimates of C$647.00 million. Equities analysts predict that Northland Power Inc. will post 1.87 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, June 29th. Northland Power’s dividend payout ratio (DPR) is presently 61.73%.

A number of equities research analysts have commented on NPI shares. CIBC increased their target price on Northland Power from C$32.00 to C$33.00 in a report on Sunday, May 17th. National Bank Financial increased their target price on Northland Power from C$32.50 to C$35.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Raymond James raised their price objective on Northland Power from C$30.00 to C$33.00 and gave the stock an “outperform” rating in a report on Sunday, May 17th. Finally, BMO Capital Markets raised their price objective on Northland Power from C$33.00 to C$36.00 in a report on Thursday, June 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Northland Power has a consensus rating of “Buy” and an average price target of C$34.17.

Northland Power Company Profile

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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