Northland Power (TSE:NPI) Given New C$23.00 Price Target at Scotiabank

Northland Power (TSE:NPI) had its price target lowered by research analysts at Scotiabank from C$24.00 to C$23.00 in a research report issued on Friday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 35.85% from the stock’s current price.

Several other equities research analysts have also recently weighed in on NPI. Desjardins cut shares of Northland Power from a “moderate buy” rating to a “hold” rating in a research note on Thursday, November 13th. BMO Capital Markets downgraded Northland Power from a “strong-buy” rating to a “hold” rating and reduced their price target for the stock from C$31.00 to C$25.00 in a research report on Thursday, November 13th. Raymond James Financial cut their target price on shares of Northland Power from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. TD Securities cut shares of Northland Power from a “buy” rating to a “hold” rating and cut their target price for the stock from C$22.00 to C$19.00 in a research note on Friday. Finally, CIBC cut their price objective on shares of Northland Power from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.94.

Northland Power Price Performance

Northland Power stock traded down C$0.73 during trading hours on Friday, hitting C$16.93. 2,141,636 shares of the company traded hands, compared to its average volume of 981,565. The firm’s 50-day simple moving average is C$23.55 and its two-hundred day simple moving average is C$22.35. Northland Power has a 1-year low of C$16.14 and a 1-year high of C$25.99. The firm has a market cap of C$4.43 billion, a P/E ratio of -15.53, a P/E/G ratio of 0.71 and a beta of 0.87. The company has a quick ratio of 1.23, a current ratio of 1.17 and a debt-to-equity ratio of 181.28.

Northland Power (TSE:NPI) last released its earnings results on Thursday, November 13th. The solar energy provider reported C($1.58) EPS for the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.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.