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

Northland Power (TSE:NPI) had its price objective hoisted by equities research analysts at Desjardins from C$23.00 to C$24.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the solar energy provider’s stock. Desjardins’ price objective would suggest a potential upside of 2.96% from the stock’s previous close.

A number of other brokerages have also commented on NPI. Canadian Imperial Bank of Commerce lifted their price objective on Northland Power from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Friday, March 27th. TD Securities lifted their price objective on Northland Power from C$21.00 to C$23.00 and gave the stock a “hold” rating in a research report on Friday, February 27th. One 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.63.

Northland Power Price Performance

Shares of TSE:NPI traded down C$0.05 during midday trading on Friday, reaching C$23.31. The company’s stock had a trading volume of 192,452 shares, compared to its average volume of 1,041,974. Northland Power has a fifty-two week low of C$15.96 and a fifty-two week high of C$25.99. The company has a market capitalization of C$6.10 billion, a P/E ratio of -35.86, a P/E/G ratio of 0.71 and a beta of 0.78. The company has a debt-to-equity ratio of 176.80, a current ratio of 1.07 and a quick ratio of 1.23. The business’s fifty day simple moving average is C$22.46 and its 200-day simple moving average is C$20.79.

Northland Power (TSE:NPI) last announced its earnings results on Thursday, February 26th. The solar energy provider reported C$0.93 earnings per share for the quarter. Northland Power had a negative return on equity of 3.92% and a negative net margin of 6.69%.The company had revenue of C$725.26 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. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.