Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on NORTHLAND POWER INC. We currently have 27 research reports from 1 professional analysts.
|03Mar17 19:39||MKW||Northland Power Agrees to Acquire 252 MW German Offshore Wind Farm|
|24Feb17 03:02||MKW||Northland Power Delivers Outstanding 2016 Results and Significant Progress on Growth Initiatives|
|21Mar16 12:00||MKW||Northland Announces Resignation of V. Peter Harder From Its Board of Directors|
|08Oct15 23:33||MKW||Northland Announces Date for 2015 Third Quarter Financial Results Release and Details of Investor Call|
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NORTHLAND POWER INC
NORTHLAND POWER INC
COMPLETES ALL TURBINE INSTALLATION AT GEMINI PROJECT
24 Aug 16
Impact: Neutral. This announcement is in line with our prior expectations as we have estimated precompletion revenues to continue to escalate throughout the final construction phases. We believe this announcement will further de-risk potentials suitors views of Northland's offshore wind potential in Europe. Recall, Northland initiated a strategic review process on July 12, 2016.
Reports 2Q16 Results
12 Aug 16
Northland missed on some expectations in the quarter, but it continues to get good results with its project management. The Company continues to advance its $6 bn construction portfolio on budget; construction at both Gemini and Nordsee One continues to proceed ahead of schedule. As announced on July 12, Management is pursuing strategic alternatives for the Company’s next phase as well as new projects around the world. We maintain our 12-MTP of $25.00/share and Market Perform ranking.
REPORTS 2Q16 RESULTS
10 Aug 16
Impact: Neutral. Northland missed on some expectations in the quarter, but it continues to get good results with its project management. The Company continues to advance its $6 bn construction portfolio on time and budget; both Gemini and Nordsee One continue to hit their marks. Management has left its previous FY2016 EBITDA guidance range of $500 mm to $530 mm unchanged. As announced on July 12, Management is pursuing strategic alternatives for the Company's next phase.
Seeks Strategic Alternatives
13 Jul 16
Northland Power announced on July 12, 2016 that it was pursuing strategic alternatives. Although there are a number of alternatives open to Northland, we think the most likely outcome is a sale of the Company.Northland has an asset development team that can turn projects into cashproducing assets, which we think will be attractive to potential buyers.With the Company focusing on near-term liquidity rather than long-term dividend sustainability, we have raised our 12-month target price to $25.00/share, which reflects a 2019 cash on cash yield of ~9%, or an 11x multiple of the free cash flow we expect in FY2019.
PURSUING STRATEGIC ALTERNATIVES
12 Jul 16
Northland Power announced on July 12, 2016 that it was pursuing strategic alternatives to "review the options available for the next phase of the company's growth" and has retained financial advisors for this purpose. Northland believes this review is appropriate as it pursues the next phase of growth. Management still intends to advance its current ~$6 bn in construction projects in progress and pursue a 'business as usual' mentality until its future direction is determined.
SETTLES DISPUTE WITH CONTRACTOR H.B. WHITE
07 Jul 16
On July 7, 2016, Northland announced its agreement with H.B. White Canada Corp. (HBWC) to settle all disputes and claims with regards to five ground-mounted solar projects in Ontario. At the same time, HBWC announced that it has filed CCAA in Ontario in concurrence with the settlement with Northland. The settlement agreements are conditional upon the CCAA proceeding receiving approval, after which, Northland would receive $6 mm, as well as other relief. Northland also anticipates that with CCAA approval, all liens and filed claims relating to Northland will be dropped by HBWC. All arbitration proceedings have been halted until the CCAA ruling.
The tide is turning
20 Apr 17
Any investor worth their salt knows it is impossible to precisely call a bottom in a particular stock. For Gattaca, though, we believe this moment has now passed given the compelling valuation (6.9x EV/EBIT vs 9.8x sector average), attractive 9.8% unlevered cashflow yield and constructive secular trends supporting its specialist markets. Sure, Net Fee Income (NFI) like-for-likes (LFL) have fallen of late, yet equally there are now early indications that organic growth may soon turn positive.
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
19 Apr 17
Lombard Risk Management* (LRM): Beats demanding growth and profit forecasts (CORP) | Frontier Developments* (FDEV): Steaming ahead (CORP) | Tax Systems* (TAX): Right place, right time (CORP) | Acal (ACL): Stronger H2 and brighter outlook (BUY) | Fenner (FENR): Interim results signal upgrades (BUY) | Minds + Machines* (MMX): US and Europe domain sales (CORP)
Small Cap Breakfast
19 Apr 17
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1. Admission expected 25 April but capital raising details TBC. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.