Northland Power Inc. (OTCMKTS:NPIFF – Get Rating) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 538,300 shares, a drop of 43.5% from the August 15th total of 952,400 shares. Based on an average daily trading volume, of 6,600 shares, the short-interest ratio is presently 81.6 days.
Wall Street Analyst Weigh In
A number of research firms have weighed in on NPIFF. Royal Bank of Canada raised their price objective on shares of Northland Power from C$46.00 to C$48.00 in a research note on Tuesday, August 16th. Desjardins raised their price objective on shares of Northland Power from C$50.00 to C$54.00 and gave the company a "top pick" rating in a research note on Tuesday, August 16th. Scotiabank increased their target price on shares of Northland Power from C$46.25 to C$51.00 in a report on Tuesday, August 16th. TD Securities increased their target price on shares of Northland Power from C$47.00 to C$55.00 in a report on Tuesday, August 16th. Finally, National Bank Financial increased their target price on shares of Northland Power from C$47.00 to C$49.00 in a report on Tuesday, August 16th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $49.67.
Get Northland Power alerts:Northland Power Trading Down 1.9 %
Northland Power stock traded down $0.65 during mid-day trading on Wednesday, hitting $34.07. 2,334 shares of the company traded hands, compared to its average volume of 3,390. Northland Power has a one year low of $26.87 and a one year high of $36.03. The stock has a fifty day moving average price of $33.11 and a 200-day moving average price of $31.85.
Northland Power Increases Dividend
The firm also recently declared a dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.0774 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This is an increase from Northland Power's previous dividend of $0.08. This represents a dividend yield of 2.67%.Northland Power Company Profile
(Get Rating)
Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in North America, Europe, Latin America, and Asia. The company produces electricity from renewable resources, such as wind, solar, or hydropower, as well as clean-burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.
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