Desjardins Lowers Northland Power (TSE:NPI) Price Target to C$22.00

Northland Power (TSE:NPI) had its target price lowered by investment analysts at Desjardins from C$23.00 to C$22.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the solar energy provider’s stock. Desjardins’ price objective suggests a potential downside of 0.41% from the company’s previous close.

A number of other analysts have also commented on NPI. ATB Cormark Capital Markets boosted their price objective on shares of Northland Power from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Scotia lifted their price target on shares of Northland Power from C$23.00 to C$25.00 and gave the company a “sector perform” rating in a research note on Friday, May 15th. TD increased their price objective 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, May 15th. Canadian Imperial Bank of Commerce raised their price objective on Northland Power from C$24.00 to C$26.00 and gave the company an “outperform” rating in a report on Friday, March 27th. Finally, Raymond James Financial lifted their target price on Northland Power from C$25.50 to C$26.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$24.70.

Northland Power Stock Up 1.0%

NPI stock opened at C$22.09 on Wednesday. The company has a debt-to-equity ratio of 168.64, a current ratio of 1.16 and a quick ratio of 1.23. The stock has a market capitalization of C$5.78 billion, a P/E ratio of -38.75, a P/E/G ratio of 0.71 and a beta of 0.86. The business has a 50-day moving average of C$22.52 and a 200-day moving average of C$21.70. Northland Power has a fifty-two week low of C$15.96 and a fifty-two week high of C$25.99.

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