TD Securities Forecasts Strong Price Appreciation for Northland Power (TSE:NPI) Stock

Northland Power (TSE:NPI) had its price objective boosted by TD Securities from C$21.00 to C$23.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the solar energy provider’s stock. TD Securities’ target price indicates a potential upside of 5.65% from the company’s previous close.

A number of other research analysts also recently commented on the stock. ATB Cormark Capital Markets lowered their price target on shares of Northland Power from C$23.00 to C$22.00 and set an “outperform” rating for the company in a report on Tuesday, December 23rd. Raymond James Financial lowered their price objective on Northland Power from C$25.00 to C$23.00 in a research note on Monday, November 24th. Desjardins downgraded Northland Power from a “moderate buy” rating to a “hold” rating in a research report on Thursday, November 13th. Canadian Imperial Bank of Commerce raised their price target on Northland Power from C$22.00 to C$23.00 in a research report on Wednesday, December 17th. Finally, BMO Capital Markets reduced their target price on shares of Northland Power from C$25.00 to C$23.00 in a research note on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$23.63.

Northland Power Price Performance

Shares of NPI traded up C$0.08 during mid-day trading on Friday, hitting C$21.77. 983,414 shares of the stock were exchanged, compared to its average volume of 1,003,658. The company has a market cap of C$5.69 billion, a PE ratio of -19.97, a price-to-earnings-growth ratio of 0.71 and a beta of 0.96. 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 moving average of C$18.88 and a two-hundred day moving average of C$20.81. The company has a debt-to-equity ratio of 181.28, a quick ratio of 1.23 and a current ratio of 1.17.

Northland Power (TSE:NPI) last announced its quarterly earnings results on Wednesday, February 25th. The solar energy provider reported C$0.93 earnings per share for the quarter. The company had revenue of C$725.26 million for the quarter. Northland Power had a negative net margin of 5.92% and a negative return on equity of 3.37%.

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.