Northland Power (TSE:NPI) Stock Price Expected to Rise, TD Analyst Says

Northland Power (TSE:NPI) had its price objective lifted by analysts at TD from C$24.00 to C$25.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the solar energy provider’s stock. TD’s price target indicates a potential upside of 9.75% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Canadian Imperial Bank of Commerce upped their price objective on shares of Northland Power from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. National Bank Financial upped 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. TD Securities upped their price objective on shares of Northland Power from C$21.00 to C$23.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Finally, Desjardins upped their price objective on shares of Northland Power from C$23.00 to C$24.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$24.80.

Northland Power Price Performance

TSE NPI traded up C$0.15 on Friday, reaching C$22.78. The company’s stock had a trading volume of 344,388 shares, compared to its average volume of 1,034,249. The firm has a market cap of C$5.96 billion, a PE ratio of -35.05, a price-to-earnings-growth ratio of 0.71 and a beta of 0.90. The business has a 50-day moving average price of C$22.84 and a 200 day moving average price of C$20.64. Northland Power has a 52 week low of C$15.96 and a 52 week high of C$25.99. The company has a current ratio of 1.07, a quick ratio of 1.23 and a debt-to-equity ratio of 176.80.

Northland Power (TSE:NPI) last posted its earnings results on Thursday, May 14th. The solar energy provider reported C$0.33 earnings per share for the quarter. The business had revenue of C$776.97 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.