Northland Power (TSE:NPI) Price Target Cut to C$23.00 by Analysts at BMO Capital Markets

Northland Power (TSE:NPI) had its target price dropped by equities research analysts at BMO Capital Markets from C$25.00 to C$23.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 35.85% from the company’s current price.

Other equities analysts have also issued research reports about the stock. TD Securities lowered shares of Northland Power from a “buy” rating to a “hold” rating and reduced their price target for the company from C$22.00 to C$19.00 in a research report on Friday. Desjardins downgraded shares of Northland Power from a “moderate buy” rating to a “hold” rating in a report on Thursday, November 13th. CIBC lowered their price target on Northland Power from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Thursday. Raymond James Financial decreased their price objective on shares of 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, Scotiabank cut their price target on shares of Northland Power from C$24.00 to C$23.00 in a research note on Friday. One equities 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$23.94.

Northland Power Stock Performance

Northland Power stock traded down C$0.73 during midday trading on Friday, hitting C$16.93. The company’s stock had a trading volume of 2,141,636 shares, compared to its average volume of 981,565. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23. Northland Power has a 1-year low of C$16.14 and a 1-year high of C$25.99. The company 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 50-day moving average price of C$23.55 and a two-hundred day moving average price of C$22.35.

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 (EPS) for the quarter. Northland Power had a negative net margin of 5.92% and a negative return on equity of 3.37%. The business 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.