Northland Power (TSE:NPI) Reaches New 52-Week High – Here’s What Happened

Shares of Northland Power Inc. (TSE:NPI) hit a new 52-week high on Tuesday . The company traded as high as C$25.99 and last traded at C$25.78, with a volume of 659906 shares. The stock had previously closed at C$25.63.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NPI. Raymond James Financial lowered their target price on Northland Power from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, August 15th. Desjardins decreased their price objective on Northland Power from C$28.00 to C$27.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Finally, CIBC boosted their price objective on Northland Power from C$28.00 to C$29.00 in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$27.07.

Northland Power Stock Performance

The stock has a market cap of C$6.74 billion, a P/E ratio of -122.76, a P/E/G ratio of 0.71 and a beta of 0.85. The company has a fifty day moving average price of C$23.65 and a 200 day moving average price of C$22.09. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23.

About Northland Power

Northland Power develops, constructs, and operates maintainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company’s largest segment over the long term.