Northland Power (TSE:NPI) Releases Earnings Results

Northland Power (TSE:NPI) announced its quarterly earnings data on Wednesday. The solar energy provider reported C$0.93 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$725.26 million during the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.

Northland Power Trading Down 0.2%

TSE NPI traded down C$0.04 on Wednesday, reaching C$20.02. The company had a trading volume of 1,204,274 shares, compared to its average volume of 964,887. The firm has a market cap of C$5.24 billion, a price-to-earnings ratio of -18.37, a P/E/G ratio of 0.71 and a beta of 0.96. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23. Northland Power has a fifty-two week low of C$15.96 and a fifty-two week high of C$25.99. The business has a 50 day moving average of C$18.79 and a two-hundred day moving average of C$20.81.

Insider Activity at Northland Power

In related news, insider Christine Healy purchased 30,000 shares of the firm’s stock in a transaction dated Thursday, November 27th. The stock was bought at an average price of C$16.71 per share, with a total value of C$501,300.00. Following the completion of the purchase, the insider owned 30,000 shares in the company, valued at approximately C$501,300. This represents a ∞ increase in their position. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank lowered their target price on Northland Power from C$24.00 to C$23.00 in a research note on Friday, November 21st. TD Securities lowered shares of Northland Power from a “buy” rating to a “hold” rating and cut their target price for the company from C$22.00 to C$19.00 in a research report on Friday, November 21st. Canadian Imperial Bank of Commerce boosted their target price on shares of Northland Power from C$22.00 to C$23.00 in a research note on Wednesday, December 17th. BMO Capital Markets dropped their price target on Northland Power from C$25.00 to C$23.00 in a research note on Friday, November 21st. Finally, ATB Cormark Capital Markets reduced their price objective on Northland Power from C$23.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$23.13.

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.