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Northland Power Inc (Ontario) NPIFF


Primary Symbol: T.NPI Alternate Symbol(s):  T.NPI.PR.A | T.NPI.PR.B | NPICF

Utilities Utilities - Independent Power Producers
Northland Power Inc. is a Canada-based global power producer focused on helping the clean energy transition by producing electricity from clean renewable resources. The Company owns and manages a diversified generation mix, including onshore renewables, natural gas energy, as well as supplying energy through a regulated utility. Its facilities produce electricity from clean-burning natural gas and renewable resources such as wind and solar. The Company’s segments include offshore wind facilities, onshore renewable facilities, natural gas facilities, and utilities. The Company’s natural gas facilities use turbines to produce electricity. It owns or has an economic interest in approximately 3.4 GW (net 2.9 GW) of operating capacity. The Company also has an inventory of projects in construction and in various stages of development encompassing approximately 12 GW of potential capacity. It operates power infrastructure assets in Asia, Europe, Latin America, and North America.


TSX:NPI - Post by User

Northland Power Inc (Ontario)
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Post by Possibleidiot01on Jan 10, 2024 7:24pm
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Post# 35820532

From Globe Investor newsletter tonight

From Globe Investor newsletter tonight
 

Domestic renewable power stocks have been shockingly volatile in recent years. The S&P/TSX Renewable Energy and Clean Technology Index soared 103 per cent between March 2020 and the end of January 2021, then cratered 57 per cent between then and now. CIBC analyst Mark Jarvi believes the sector is due for another rally.

Mr. Jarvi admits that his bullish call on renewable power might be early as valuations are not yet glaringly attractive and his forecasted earnings growth for 2024 at approximately 3 per cent is far from impressive. However, the strong fourth quarter rally for many stocks in the sector emphasized the upside potential arising from lower interest rate assumptions.

CIBC also expects further government policy support to provide growth upside in the medium term. The sector also presents attractive dividend yields for income-oriented investors.

Boralex Inc. (BLX-T) and Northland Power Inc. (NPI-T) are Mr. Jarvi’s top picks. In the first case he believes Boralex offers excellent risk-adjusted return potential as the current share price understates future growth prospects. Boralex has some of the strongest forecasted profit growth in the sector and the ability to expand operations in i ts primary markets of France, Quebec and the U.S.

Northland Power, the other top pick, offers higher risk but higher return potential, according to the analyst. He expects investors will eventually reward the company’s progress in offshore wind operations and that sentiment towards offshore wind will improve generally, providing valuation upside. Northland Power currently yields 4.9 per cent.
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Mr. Jarvi’s admission that his optimism may be premature is important for investors to remember. A period of waiting, watching and researching renewable power stocks is likely the prudent course.

-- Scott Barlow, Globe and Mail market strategist


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