Desjardins Forecasts Strong Price Appreciation for Northland Power (TSE:NPI) Stock

Northland Power (TSE:NPI) had its price objective lifted by research analysts at Desjardins from C$21.00 to C$23.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the solar energy provider’s stock. Desjardins’ price objective would suggest a potential downside of 2.42% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. TD Securities boosted 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. Canadian Imperial Bank of Commerce boosted 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$23.50.

Northland Power Stock Performance

Shares of Northland Power stock opened at C$23.57 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.07 and a debt-to-equity ratio of 176.80. Northland Power has a twelve month low of C$15.96 and a twelve month high of C$25.99. The stock has a market cap of C$6.16 billion, a price-to-earnings ratio of -36.26, a P/E/G ratio of 0.71 and a beta of 0.78. The company’s fifty day moving average is C$22.15 and its 200 day moving average is C$20.79.

Northland Power (TSE:NPI) last issued its quarterly earnings data on Thursday, February 26th. The solar energy provider reported C$0.93 earnings per share for the quarter. Northland Power had a negative net margin of 6.69% and a negative return on equity of 3.92%. The company had revenue of C$725.26 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.