Northland Power (TSE:NPI) Price Target Cut to C$23.00 by Analysts at Desjardins

Northland Power (TSE:NPI) had its target price decreased by research analysts at Desjardins from C$24.00 to C$23.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the solar energy provider’s stock. Desjardins’ price target would suggest a potential upside of 0.97% from the company’s previous close.

A number of other equities analysts have also recently issued reports on NPI. Canadian Imperial Bank of Commerce upped their price target on shares of Northland Power from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. National Bank Financial upped their price target on shares of Northland Power from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday. TD upped their price target on shares of Northland Power from C$24.00 to C$25.00 and gave the stock a “hold” rating in a research note on Friday. Finally, TD Securities upped their price target on shares of Northland Power from C$21.00 to C$23.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$24.80.

Northland Power Stock Up 0.7%

Shares of NPI stock traded up C$0.15 during mid-day trading on Friday, reaching C$22.78. 344,388 shares of the company’s stock traded hands, compared to its average volume of 1,034,249. Northland Power has a 12 month low of C$15.96 and a 12 month high of C$25.99. The company has a market cap of C$5.96 billion, a P/E ratio of -35.05, a P/E/G ratio of 0.71 and a beta of 0.90. The company has a quick ratio of 1.23, a current ratio of 1.07 and a debt-to-equity ratio of 176.80. The company’s 50-day moving average price is C$22.84 and its 200-day moving average price is C$20.64.

Northland Power (TSE:NPI) last announced its earnings results on Thursday, May 14th. The solar energy provider reported C$0.33 EPS for the quarter. Northland Power had a negative net margin of 6.69% and a negative return on equity of 3.92%. The firm had revenue of C$776.97 million for the quarter.

Northland Power Company Profile

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.