Northland Power: Shares Fall on CEO Transition Announcement
We maintain our CAD 29 fair value estimate for no-moat Northland Power following news of its CEO transition. We view shares as undervalued.
We maintain our CAD 29 fair value estimate for no-moat Northland Power following news of its CEO transition. We view shares as undervalued.
Northland is a first mover in offshore wind, which is still in its early days of adoption globally.
Northland’s existing offshore wind portfolio is relatively concentrated with shorter-term remaining contracts.
Metric
|
NPI
|
RWE
|
ORSTED
|
---|---|---|---|
Price/Earnings (Normalized) | 18.62 | 14.39 | 8.10 |
Price/Book Value | 1.35 | 0.77 | 2.80 |
Price/Sales | 2.42 | 0.85 | 3.09 |
Price/Cash Flow | 5.83 | 34.97 | 14.11 |
Metric
|
NPI
|
RWE
|
ORSTED
|
---|---|---|---|
Quick Ratio | 0.81 | 0.67 | 1.02 |
Current Ratio | 1.13 | 1.58 | 1.37 |
Interest Coverage | 0.62 | 2.96 | −3.35 |
Metric
|
NPI
|
RWE
|
ORSTED
|
---|---|---|---|
Return on Assets (Normalized) | 2.41% | 3.84% | −2.42% |
Return on Equity (Normalized) | 8.02% | 14.38% | −10.60% |
Return on Invested Capital (Normalized) | 4.52% | 7.64% | −2.73% |
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
---|---|---|---|---|---|
CEG
| Constellation Energy Corp | — | Msvgkq | $58.7 Bil | |
GEV
| GE Vernova Inc | Hpngdxrd | Bxpp | $41.6 Bil | |
OEZVF
| Verbund AG Class A | — | Qdsl | $27.5 Bil | |
OEZVY
| Verbund AG ADR | — | Ckm | $26.5 Bil | |
DNNGY
| Orsted A/S ADR | — | Mtryx | $22.9 Bil | |
DOGEF
| Orsted A/S | — | Cplt | $22.9 Bil | |
CZAVF
| CEZ a.s | — | Jbxqst | $19.8 Bil | |
EBR.B
| Centrais Eletricas Brasileiras SA ADR | — | Vqgh | $16.6 Bil | |
BEP
| Brookfield Renewable Partners LP | Qlzvjndf | Qrcs | $6.7 Bil | |
BEPC
| Brookfield Renewable Corp Ordinary Shares - Class A (Sub Voting) | Xjvctvdvx | Nzgld | $4.6 Bil |