TD Securities Increases Northland Power (TSE:NPI) Price Target to C$29.00

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Northland Power (TSE:NPI) had its target price boosted by investment analysts at TD Securities from C$28.00 to C$29.00 in a report issued on Wednesday, BayStreet.CA reports. TD Securities’ price target points to a potential upside of 12.27% from the company’s current price.

NPI has been the subject of several other reports. Raymond James reissued an “average” rating and set a $4.50 price objective on shares of John Hancock Financial Opprts Fund in a research note on Thursday, May 9th. Royal Bank of Canada reissued a “sell” rating on shares of CI Financial in a research note on Friday, May 10th. CIBC raised their price objective on Quebecor from C$34.00 to C$35.00 in a research note on Friday, May 10th. BMO Capital Markets reissued a “buy” rating on shares of Gran Tierra Energy in a research note on Wednesday, June 26th. Finally, National Bank Financial raised their price objective on TransAlta Renewables from C$13.00 to C$13.25 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Northland Power presently has a consensus rating of “Buy” and an average price target of C$27.64.

Shares of NPI traded up C$0.51 during trading hours on Wednesday, hitting C$25.83. 260,325 shares of the company were exchanged, compared to its average volume of 619,717. The company has a market capitalization of $4.56 billion and a P/E ratio of 15.91. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 491.00. The business’s fifty day moving average is C$25.37. Northland Power has a one year low of C$19.91 and a one year high of C$26.32.

Northland Power (TSE:NPI) last released its quarterly earnings data on Wednesday, May 8th. The solar energy provider reported C$0.78 earnings per share for the quarter, topping the consensus estimate of C$0.45 by C$0.33. The company had revenue of C$498.54 million for the quarter, compared to the consensus estimate of C$473.60 million. Equities analysts anticipate that Northland Power will post 2.0799999 earnings per share for the current fiscal year.

In other news, Director John Wycliffe Brace sold 121,600 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$25.52, for a total value of C$3,102,806.40. Following the completion of the sale, the director now owns 502,026 shares in the company, valued at C$12,809,946.43.

Northland Power Company Profile

Northland Power Inc develops, builds, owns, and operates clean and green power projects primarily in Canada and Europe. The company produces electricity from renewable resources, such as wind, solar, or hydro power, as well as clean burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.

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Analyst Recommendations for Northland Power (TSE:NPI)

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