Scotiabank Has Lowered Expectations for Northland Power (TSE:NPI) Stock Price

Northland Power (TSE:NPI) had its target price dropped by stock analysts at Scotiabank from C$24.00 to C$23.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 35.85% from the stock’s current price.

A number of other equities analysts have also recently weighed in on NPI. Desjardins cut shares of Northland Power from a “moderate buy” rating to a “hold” rating in a research report on Thursday, November 13th. TD Securities cut Northland Power from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$22.00 to C$19.00 in a report on Friday. BMO Capital Markets lowered Northland Power from a “strong-buy” rating to a “hold” rating and lowered their price objective for the stock from C$31.00 to C$25.00 in a research note on Thursday, November 13th. Raymond James Financial lowered their price objective on shares of Northland Power from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, August 15th. Finally, CIBC decreased their price target on Northland Power from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Thursday. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$23.94.

Northland Power Stock Performance

Shares of NPI stock traded down C$0.73 during mid-day trading on Friday, reaching C$16.93. The stock had a trading volume of 2,141,636 shares, compared to its average volume of 981,565. Northland Power has a 1-year low of C$16.14 and a 1-year high of C$25.99. The firm has a market cap of C$4.43 billion, a price-to-earnings ratio of -15.53, a PEG ratio of 0.71 and a beta of 0.87. The company has a current ratio of 1.17, a quick ratio of 1.23 and a debt-to-equity ratio of 181.28. The business’s fifty day moving average is C$23.55 and its 200-day moving average is C$22.35.

Northland Power (TSE:NPI) last announced its quarterly earnings data on Thursday, November 13th. The solar energy provider reported C($1.58) EPS for the quarter. The business had revenue of C$559.39 million for the quarter. Northland Power had a negative net margin of 5.92% and a negative return on equity of 3.37%.

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.