Northland Power: The 7.5% Yield From Preferreds Looks Better Once Again

  • We previously recommended Northland Power's common stock which has outperformed the market by 20%. The company faces substantial capex requirements, with $16 billion in total and $7 billion net to Northland, concentrated before the end of 2027. Given increasing levels of uncertainty, we are moving back to a hold and scouting for entries in the preferred shares.