Northland Power – Buying opportunity

New secondary offering has taken the share price down by 10%

Current market price of $23.16 is below issue price of $23.35

Secondary issue has no effect on treasury stock – no dilution

Chairman is selling a large chunk of his stock for estate planning purposes

Company has strong projected growth in cash flow and earnings over next two years – better than average of its peers

Stock is attractively priced at current levels relative to peers at 14.25 PE on this year’s eps

Current dividend yield of 4.66% with reasonable payout


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