Desjardins Has Lowered Expectations for Northland Power (TSE:NPI) Stock Price

Northland Power (TSE:NPI) had its target price dropped by analysts at Desjardins from C$23.00 to C$22.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a “hold” rating on the solar energy provider’s stock. Desjardins’ target price points to a potential upside of 0.87% from the company’s previous close.

Several other research analysts also recently commented on the company. TD boosted their target price on Northland Power from C$24.00 to C$25.00 and gave the stock a “hold” rating in a report on Friday, May 15th. National Bank Financial raised their price target on Northland Power from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Raymond James Financial raised their target price on Northland Power from C$25.50 to C$26.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. ATB Cormark Capital Markets lifted their price target on Northland Power from C$24.00 to C$26.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Scotia upped their price target on shares of Northland Power from C$23.00 to C$25.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Northland Power currently has a consensus rating of “Hold” and a consensus target price of C$24.70.

Northland Power Price Performance

Shares of Northland Power stock traded down C$0.03 during mid-day trading on Wednesday, reaching C$21.81. 280,743 shares of the stock were exchanged, compared to its average volume of 974,345. Northland Power has a fifty-two week low of C$15.96 and a fifty-two week high of C$25.99. The company has a market cap of C$5.70 billion, a price-to-earnings ratio of -38.26, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86. The firm has a 50-day simple moving average of C$22.57 and a 200 day simple moving average of C$21.64. The company has a current ratio of 1.16, a quick ratio of 1.23 and a debt-to-equity ratio of 168.64.

Northland Power (TSE:NPI) last released its quarterly earnings results on Thursday, May 14th. The solar energy provider reported C$0.33 EPS for the quarter. The firm had revenue of C$776.97 million for the quarter. Northland Power had a negative net margin of 5.52% and a negative return on equity of 3.45%.

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.