Northland Power (TSE:NPI) Downgraded by TD Securities to “Hold”

TD Securities cut shares of Northland Power (TSE:NPI) from a buy rating to a hold rating in a research report report published on Friday,BayStreet.CA reports. TD Securities currently has C$19.00 price target on the solar energy provider’s stock, down from their prior price target of C$22.00.

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

Northland Power Trading Down 3.6%

NPI traded down C$0.64 during midday trading on Friday, reaching C$17.02. 3,210,829 shares of the company’s stock traded hands, compared to its average volume of 986,942. Northland Power has a 52 week low of C$16.14 and a 52 week high of C$25.99. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23. The firm has a fifty day moving average of C$23.43 and a two-hundred day moving average of C$22.34. The stock has a market capitalization of C$4.45 billion, a price-to-earnings ratio of -15.61, a P/E/G ratio of 0.71 and a beta of 0.87.

Northland Power (TSE:NPI) last issued its quarterly earnings data 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 during 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.