Desjardins Downgrades Northland Power (TSE:NPI) to Hold

Northland Power (TSE:NPI) was downgraded by Desjardins from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. CIBC cut their target price on shares of Northland Power from C$29.00 to C$25.00 in a research report on Friday. Raymond James Financial lowered their price target on Northland Power from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. Finally, BMO Capital Markets lowered Northland Power from a “strong-buy” rating to a “hold” rating and decreased their price target for the stock from C$31.00 to C$25.00 in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$26.31.

Northland Power Price Performance

Northland Power stock traded down C$0.04 during midday trading on Thursday, hitting C$18.20. The company’s stock had a trading volume of 4,018,564 shares, compared to its average volume of 954,780. The company has a market capitalization of C$4.76 billion, a PE ratio of -86.67, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87. Northland Power has a 12 month low of C$16.14 and a 12 month high of C$25.99. The stock’s 50-day moving average price is C$23.92 and its 200-day moving average price is C$22.37. The company has a quick ratio of 1.23, a current ratio of 1.17 and a debt-to-equity ratio of 181.28.

Northland Power (TSE:NPI) last released 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 net margin of 5.92% and a negative return on equity of 3.37%. The company had revenue of C$559.39 million during the quarter.

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.