RE:Motley Fool It's natural to wonder if Northland can develop its pipeline of projects. The company has its North Sea portfolio as a start. But the future project portfolio is impressive.
It will be about the little company that could. That's why Motley thinks the stock is underrated and still has a lot to prove. In the Scottish auction for example, it's not only about placing turbines in the water, but the whole picture which Northland will have to prove out.
This company has a long term investment horizon. As long as there is that balance of passive income and long term growth, then ideal. A company's dividend income is sought after when supported by its stock price.
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Northland Power (TSX:NPI) is one of the most underrated renewable firms out there. At $38 and change per share, though, I think the firm offers solid renewable exposure for a reasonable price and a nice 3.1% dividend yield. Shares are down 24% from their highs just north of the $50-per-share mark. Undoubtedly, the green energy trade has lost traction, and though there are more exciting plays in the space, I find NPI stock to be a perfect balance of passive income and growth. The $9 billion company has a lot to prove, and I’d argue it could have the most upside in a green energy tailwind.