Desjardins Increases Northland Power (TSE:NPI) Price Target to C$23.00

Key Points

• Desjardins raised its price target on Northland Power to C$23.00 (from C$21.00) while maintaining a "hold" rating, a target that implies about a 2.62% downside from the stock's current price.
• The analyst consensus remains a Moderate Buy with an average price target of C$23.50, though some firms like CIBC have higher targets (C$26.00) and an "outperform" rating.
• Shares traded at C$23.62 recently (market cap C$6.18B), but the company shows negative profitability metrics (negative net margin and ROE, negative P/E) and a high debt-to-equity ratio (~176.8).

Northland Power (TSE:NPI - Get Free Report) had its price objective increased by stock analysts at Desjardins from C$21.00 to C$23.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a "hold" rating on the solar energy provider's stock. Desjardins' price objective points to a potential downside of 2.62% from the stock's current price.

NPI has been the subject of several other reports. Canadian Imperial Bank of Commerce raised their target price on shares of Northland Power from C$24.00 to C$26.00 and gave the company an "outperform" rating in a research note on Friday, March 27th. TD Securities raised their target price on shares of Northland Power from C$21.00 to C$23.00 and gave the company a "hold" rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Northland Power presently has an average rating of "Moderate Buy" and an average price target of C$23.50.

Northland Power Price Performance

Shares of NPI stock traded up C$0.57 on Friday, hitting C$23.62. 323,017 shares of the stock traded hands, compared to its average volume of 1,062,198. The firm has a market cap of C$6.18 billion, a price-to-earnings ratio of -36.34, a PEG ratio of 0.71 and a beta of 0.78. Northland Power has a 52 week low of C$15.96 and a 52 week high of C$25.99. The firm has a 50 day simple moving average of C$22.07 and a two-hundred day simple moving average of C$20.83. The company has a debt-to-equity ratio of 176.80, a current ratio of 1.07 and a quick ratio of 1.23.

Northland Power (TSE:NPI - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The solar energy provider reported C$0.93 EPS for the quarter. The firm had revenue of C$725.26 million for the quarter. Northland Power had a negative net margin of 6.69% and a negative return on equity of 3.92%.

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.

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