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

Northland Power (TSE:NPI) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a research note issued on Friday,BayStreet.CA reports. They presently have a C$19.00 target price on the solar energy provider’s stock, down from their prior target price of C$22.00. TD Securities’ target price would suggest a potential upside of 12.23% from the stock’s current price.

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

Northland Power Price Performance

Shares of NPI traded down C$0.73 during mid-day 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. The firm has a 50-day moving average price of C$23.55 and a 200 day moving average price of C$22.35. Northland Power has a fifty-two week low of C$16.14 and a fifty-two week high of C$25.99. The stock has a market capitalization 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.

Northland Power (TSE:NPI) last posted its quarterly earnings results on Thursday, November 13th. The solar energy provider reported C($1.58) earnings per share (EPS) for the quarter. The business had revenue of C$559.39 million during the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.

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.