Scotiabank Cuts Northland Power (TSE:NPI) Price Target to C$23.00

Northland Power (TSE:NPI) had its price objective cut by Scotiabank from C$24.00 to C$23.00 in a research note published on Friday,BayStreet.CA reports.

NPI has been the topic of a number of other research reports. BMO Capital Markets cut shares of Northland Power from a “strong-buy” rating to a “hold” rating and lowered their target price for the company from C$31.00 to C$25.00 in a research note on Thursday, November 13th. Raymond James Financial decreased their price objective on Northland Power from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. CIBC lowered their price objective on Northland Power from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Thursday. Desjardins downgraded Northland Power from a “moderate buy” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, TD Securities lowered Northland Power from a “buy” rating to a “hold” rating and decreased their price target for the company from C$22.00 to C$19.00 in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$23.94.

Northland Power Stock Performance

Shares of TSE NPI opened at C$17.02 on Friday. The firm has a market capitalization of C$4.45 billion, a price-to-earnings ratio of -15.61, a PEG ratio of 0.71 and a beta of 0.87. Northland Power has a one year low of C$16.14 and a one year high of C$25.99. The business has a fifty day simple moving average of C$23.43 and a 200 day simple moving average of C$22.39. The company has a current ratio of 1.17, a quick ratio of 1.23 and a debt-to-equity ratio of 181.28.

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. Northland Power had a negative net margin of 5.92% and a negative return on equity of 3.37%. The business had revenue of C$559.39 million during 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.