Northland Power (TSE:NPI) Price Target Cut to C$22.00 by Analysts at ATB Capital

Northland Power (TSE:NPI) had its target price dropped by analysts at ATB Capital from C$23.00 to C$22.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the solar energy provider’s stock. ATB Capital’s price target suggests a potential upside of 24.36% from the stock’s previous close.

A number of other research firms have also recently commented on NPI. Scotiabank decreased their target price on shares of Northland Power from C$24.00 to C$23.00 in a research report on Friday, November 21st. BMO Capital Markets decreased their price objective on Northland Power from C$25.00 to C$23.00 in a report on Friday, November 21st. National Bankshares dropped their target price on Northland Power from C$27.00 to C$25.00 in a research note on Friday, November 21st. Raymond James Financial decreased their price target on Northland Power from C$25.00 to C$23.00 in a research note on Monday, November 24th. Finally, Desjardins cut shares of Northland Power from a “moderate buy” rating to a “hold” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$23.17.

Northland Power Stock Up 0.5%

Shares of TSE NPI traded up C$0.08 during mid-day trading on Tuesday, reaching C$17.69. 474,460 shares of the company were exchanged, compared to its average volume of 1,057,924. Northland Power has a 1 year low of C$15.96 and a 1 year high of C$25.99. The firm has a 50-day moving average of C$20.78 and a 200 day moving average of C$21.92. The stock has a market cap of C$4.63 billion, a price-to-earnings ratio of -16.23, a P/E/G ratio of 0.71 and a beta of 0.79. 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 announced its earnings results on Thursday, November 13th. The solar energy provider reported C($1.58) EPS for the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.The firm had revenue of C$554.48 million during the quarter.

Insider Activity

In related news, insider Christine Healy purchased 30,000 shares of the firm’s stock in a transaction on Thursday, November 27th. The stock was bought at an average cost of C$16.71 per share, with a total value of C$501,300.00. Following the completion of the acquisition, the insider owned 30,000 shares of the company’s stock, valued at C$501,300. The trade was a ? increase in their position. Insiders have acquired a total of 33,425 shares of company stock worth $545,461 over the last three months. Company insiders own 0.09% of the company’s stock.

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.