Scotia Issues Positive Forecast for Northland Power (TSE:NPI) Stock Price

Northland Power (TSE:NPI) had its price target boosted by stock analysts at Scotia from C$23.00 to C$25.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the solar energy provider’s stock. Scotia’s price target indicates a potential upside of 9.75% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Canadian Imperial Bank of Commerce lifted their price objective on Northland Power from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research note on Friday, March 27th. Desjardins decreased their price objective on Northland Power from C$24.00 to C$23.00 and set a “hold” rating for the company in a research note on Friday. TD lifted their price objective on Northland Power from C$24.00 to C$25.00 and gave the company a “hold” rating in a research note on Friday. Raymond James Financial lifted their price objective on Northland Power from C$25.50 to C$26.00 and gave the company an “outperform” rating in a research note on Friday. Finally, National Bank Financial lifted their price objective on Northland Power from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Northland Power presently has an average rating of “Hold” and an average target price of C$24.80.

Northland Power Trading Up 0.7%

NPI traded up C$0.15 during mid-day trading on Friday, hitting C$22.78. 344,388 shares of the stock were exchanged, compared to its average volume of 1,034,249. The firm’s fifty day moving average is C$22.84 and its two-hundred day moving average is C$20.64. Northland Power has a 1-year low of C$15.96 and a 1-year 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. The company has a market cap of C$5.96 billion, a PE ratio of -35.05, a PEG ratio of 0.71 and a beta of 0.90.

Northland Power (TSE:NPI) last posted its earnings results on Thursday, May 14th. The solar energy provider reported C$0.33 earnings per share (EPS) for the quarter. Northland Power had a negative return on equity of 3.92% and a negative net margin of 6.69%.The firm had revenue of C$776.97 million for the quarter.

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.