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) | 18.29 | 14.26 | 7.85 |
Price/Book Value | 1.32 | 0.76 | 2.88 |
Price/Sales | 2.38 | 0.84 | 2.37 |
Price/Cash Flow | 5.73 | 34.66 | 14.39 |
Metric
|
NPI
|
RWE
|
ORSTED
|
---|---|---|---|
Quick Ratio | 0.81 | 0.67 | 1.05 |
Current Ratio | 1.13 | 1.58 | 1.42 |
Interest Coverage | 0.62 | 2.96 | −3.83 |
Metric
|
NPI
|
RWE
|
ORSTED
|
---|---|---|---|
Return on Assets (Normalized) | 2.41% | 3.84% | −2.04% |
Return on Equity (Normalized) | 8.02% | 14.38% | −8.73% |
Return on Invested Capital (Normalized) | 4.52% | 7.64% | −2.27% |
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
---|---|---|---|---|---|
CEG
| Constellation Energy Corp | — | Nskjllc | $57.9 Bil | |
GEV
| GE Vernova Inc | Gyrmprxj | Tdch | $36.7 Bil | |
OEZVY
| Verbund AG ADR | — | Hbn | $26.0 Bil | |
OEZVF
| Verbund AG Class A | — | Trt | $26.0 Bil | |
DNNGY
| Orsted A/S ADR | — | Ylclsy | $23.4 Bil | |
DOGEF
| Orsted A/S | — | Gxlmbvs | $23.4 Bil | |
CZAVF
| CEZ a.s | — | Zxwbyk | $19.8 Bil | |
EBR
| Centrais Eletricas Brasileiras SA ADR | — | Zkz | $16.5 Bil | |
BEP
| Brookfield Renewable Partners LP | Ygfxjkzsv | Vzfl | $5.9 Bil | |
BEPC
| Brookfield Renewable Corp Ordinary Shares - Class A (Sub Voting) | Xfdtrkqtzy | Vtc | $4.0 Bil |