Northland Power (TSE:NPI) Given New C$22.00 Price Target at Desjardins

Key Points

• Desjardins cut its price target on Northland Power to C$22.00 from C$23.00 while keeping a hold rating, implying only slight upside from the prior close.
• Other analysts were more upbeat: several firms raised targets, and the stock’s overall consensus rating remains Hold with an average price target of C$24.70.
• Northland Power shares recently traded at C$21.81, and the company reported quarterly EPS of C$0.33 on revenue of C$776.97 million.

Northland Power (TSE:NPI - Get Free Report) had its target price decreased by investment analysts at Desjardins from C$23.00 to C$22.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a "hold" rating on the solar energy provider's stock. Desjardins' target price points to a potential upside of 0.87% from the stock's previous close.

Several other research firms have also issued reports on NPI. ATB Cormark Capital Markets raised their price target 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. National Bank Financial increased their target price on shares of Northland Power from C$27.00 to C$28.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Scotia lifted their target price on Northland Power from C$23.00 to C$25.00 and gave the stock a "sector perform" rating in a research report on Friday, May 15th. TD lifted their target price on Northland Power from C$24.00 to C$25.00 and gave the stock a "hold" rating in a research report on Friday, May 15th. Finally, Raymond James Financial boosted their price target on Northland Power from C$25.50 to C$26.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Northland Power has an average rating of "Hold" and an average price target of C$24.70.

Northland Power Stock Performance

Shares of NPI stock traded down C$0.03 during trading hours on Wednesday, reaching C$21.81. 280,743 shares of the company's stock were exchanged, compared to its average volume of 974,345. Northland Power has a fifty-two week low of C$15.96 and a fifty-two week high of C$25.99. The company has a quick ratio of 1.23, a current ratio of 1.16 and a debt-to-equity ratio of 168.64. The stock has a market capitalization of C$5.70 billion, a P/E ratio of -38.26, a P/E/G ratio of 0.71 and a beta of 0.86. The business has a fifty day moving average price of C$22.57 and a 200-day moving average price of C$21.64.

Northland Power (TSE:NPI - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The solar energy provider reported C$0.33 earnings per share (EPS) for the quarter. The business had revenue of C$776.97 million for the quarter. Northland Power had a negative net margin of 5.52% and a negative return on equity of 3.45%.

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.

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