Northland Power (TSE:NPI) Lowered to “Hold” Rating by Desjardins

Desjardins cut shares of Northland Power (TSE:NPI) from a moderate buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

NPI has been the topic of several other reports. BMO Capital Markets downgraded shares of Northland Power from a “strong-buy” rating to a “hold” rating and dropped their target price for the stock from C$31.00 to C$25.00 in a report on Thursday. CIBC dropped their price objective on shares of Northland Power from C$29.00 to C$25.00 in a report on Friday. Finally, Raymond James Financial reduced their target price on shares of Northland Power from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Northland Power has an average rating of “Moderate Buy” and a consensus target price of C$26.31.

Northland Power Trading Down 0.2%

Northland Power stock traded down C$0.04 during mid-day trading on Thursday, hitting C$18.20. 4,018,564 shares of the company’s stock were exchanged, compared to its average volume of 954,780. The company’s 50 day simple moving average is C$23.92 and its 200-day simple moving average is C$22.37. The company has a quick ratio of 1.23, a current ratio of 1.17 and a debt-to-equity ratio of 181.28. The firm has a market capitalization of C$4.76 billion, a P/E ratio of -86.67, a PEG ratio of 0.71 and a beta of 0.87. Northland Power has a fifty-two week low of C$16.14 and a fifty-two week high of C$25.99.

Northland Power (TSE:NPI) last announced its quarterly earnings results on Thursday, November 13th. The solar energy provider reported C($1.58) earnings per share (EPS) for the quarter. The business had revenue of C$559.39 million during the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.

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.