Northland Power (TSE:NPI) Upgraded to "Buy" at TD

Key Points

• TD upgraded Northland Power to “Buy” from “Hold” and set a C$25.00 price target, implying 16.33% upside from the prior close.
• Analyst sentiment is moderately positive: five analysts rate the stock “Buy” and five rate it “Hold,” producing a consensus “Moderate Buy” rating and C$24.90 target price.
• Northland Power shares rose 3.1% to C$21.49, while the company’s latest quarter showed a C$0.24 loss per share, C$2.35 million in revenue, and negative net margin and return on equity.

Northland Power (TSE:NPI - Get Free Report) was upgraded by equities research analysts at TD from a "hold" rating to a "buy" rating in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a C$25.00 price target on the solar energy provider's stock. TD's target price would suggest a potential upside of 16.33% from the company's previous close.

NPI has been the subject of several other reports. Scotia increased their price target on shares of Northland Power from C$23.00 to C$25.00 and gave the stock a "sector perform" rating in a research note on Friday, May 15th. ATB Cormark Capital Markets boosted their price objective on shares of Northland Power from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a research note on Friday. National Bank Financial lifted 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 report on Friday, May 15th. Desjardins reduced their price objective on shares of Northland Power from C$23.00 to C$22.00 and set a "hold" rating for the company in a research note on Wednesday, July 22nd. Finally, Raymond James Financial boosted their price objective on shares of Northland Power from C$25.50 to C$26.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$24.90.

Northland Power Stock Up 3.1%

Shares of TSE NPI traded up C$0.65 during mid-day trading on Friday, hitting C$21.49. 729,146 shares of the stock traded hands, compared to its average volume of 979,471. The company has a market cap of C$5.62 billion, a price-to-earnings ratio of -37.70, a PEG ratio of 0.71 and a beta of 0.88. The stock has a fifty day moving average price of C$22.02 and a 200-day moving average price of C$22.00. Northland Power has a 52 week low of C$15.96 and a 52 week high of C$25.99. The company has a debt-to-equity ratio of 168.64, a quick ratio of 1.23 and a current ratio of 1.16.

Northland Power (TSE:NPI - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The solar energy provider reported C($0.24) earnings per share (EPS) for the quarter. The firm had revenue of C$2.35 million during the quarter. Northland Power had a negative return on equity of 3.45% and a negative net margin of 5.52%.

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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