Northland Power (TSE:NPI) Rating Lowered to Hold at TD Securities

Northland Power (TSE:NPI) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Friday,BayStreet.CA reports. They presently have a C$19.00 price objective on the solar energy provider’s stock, down from their prior price objective of C$22.00. TD Securities’ target price points to a potential upside of 12.23% from the stock’s current price.

Several other analysts also recently weighed in on the company. Raymond James Financial reduced their target price on Northland Power from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, August 15th. CIBC decreased their target price on shares of Northland Power from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Thursday. Desjardins cut shares of Northland Power from a “moderate buy” rating to a “hold” rating in a research note on Thursday, November 13th. BMO Capital Markets cut shares of Northland Power from a “strong-buy” rating to a “hold” rating and reduced their price objective for the company from C$31.00 to C$25.00 in a research note on Thursday, November 13th. Finally, Scotiabank lowered shares of Northland Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$23.94.

Northland Power Stock Performance

Shares of TSE:NPI traded down C$0.73 on Friday, hitting C$16.93. 2,141,636 shares of the company were exchanged, compared to its average volume of 981,565. The company has a current ratio of 1.17, a quick ratio of 1.23 and a debt-to-equity ratio of 181.28. Northland Power has a 1-year low of C$16.14 and a 1-year high of C$25.99. The stock’s 50 day moving average price is C$23.55 and its 200 day moving average price is C$22.35. The firm has a market capitalization of C$4.43 billion, a P/E ratio of -15.53, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87.

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