Northland Power (TSE:NPI) Releases Earnings Results

Northland Power (TSE:NPI) issued its earnings results on Wednesday. The solar energy provider reported C$0.93 EPS for the quarter, FiscalAI reports. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.The business had revenue of C$725.26 million during the quarter.

Northland Power Stock Up 8.3%

Shares of NPI opened at C$21.69 on Friday. The company has a market capitalization of C$5.67 billion, a P/E ratio of -19.90, a PEG ratio of 0.71 and a beta of 0.96. Northland Power has a one year low of C$15.96 and a one year high of C$25.99. The business’s 50 day simple moving average is C$18.88 and its 200-day simple moving average is C$20.81. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23.

Wall Street Analyst Weigh In

NPI has been the subject of a number of recent research reports. Scotiabank dropped their price objective on shares of Northland Power from C$24.00 to C$23.00 in a research note on Friday, November 21st. BMO Capital Markets lowered their target price on shares of Northland Power from C$25.00 to C$23.00 in a research note on Friday, November 21st. Raymond James Financial cut their price target on shares of Northland Power from C$25.00 to C$23.00 in a research note on Monday, November 24th. TD Securities downgraded Northland Power from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$22.00 to C$19.00 in a report on Friday, November 21st. Finally, Desjardins cut Northland Power from a “moderate buy” rating to a “hold” rating in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$23.13.

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. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.