National Bank Financial Increases Northland Power (TSE:NPI) Price Target to C$27.00

Northland Power (TSE:NPI) had its price objective raised by National Bank Financial from C$26.00 to C$27.00 in a research report report published on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the solar energy provider’s stock. National Bank Financial also issued estimates for Northland Power’s Q4 2019 earnings at $0.38 EPS and FY2020 earnings at $1.85 EPS.

Other equities analysts have also recently issued reports about the company. CIBC increased their target price on Quebecor from C$34.00 to C$35.00 in a report on Friday, May 10th. Raymond James reissued an average rating and issued a $4.50 target price on shares of John Hancock Financial Opprts Fund in a report on Thursday, May 9th. BMO Capital Markets reaffirmed a buy rating on shares of Gran Tierra Energy in a report on Wednesday, June 26th. TD Securities dropped their price target on Total Energy Services from C$11.50 to C$10.00 and set a hold rating for the company in a report on Friday, May 10th. Finally, Royal Bank of Canada reaffirmed a sell rating on shares of CI Financial in a report on Friday, May 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of C$27.53.

Shares of NPI opened at C$25.52 on Wednesday. Northland Power has a 1 year low of C$19.91 and a 1 year high of C$26.32. The company has a debt-to-equity ratio of 491.00, a quick ratio of 0.83 and a current ratio of 1.33. The stock has a 50 day moving average of C$25.34. The firm has a market cap of $4.60 billion and a PE ratio of 15.71.

Northland Power (TSE:NPI) last issued its earnings results on Wednesday, May 8th. The solar energy provider reported C$0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.45 by C$0.33. The company had revenue of C$498.54 million during the quarter, compared to analyst estimates of C$473.60 million. As a group, analysts anticipate that Northland Power will post 2.0799999 earnings per share for the current fiscal year.

In related news, Director John Wycliffe Brace sold 121,600 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$25.52, for a total transaction of C$3,102,806.40. Following the completion of the sale, the director now directly owns 502,026 shares of the company’s stock, valued at approximately C$12,809,946.43.

About Northland Power

Northland Power Inc develops, builds, owns, and operates clean and green power projects primarily in Canada and Europe. The company produces electricity from renewable resources, such as wind, solar, or hydro power, as well as clean burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.

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Analyst Recommendations for Northland Power (TSE:NPI)

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