Northland Power (NPIFF) Receives a Buy from Raymond James

By Ryan Adsit

In a report released today, David Quezada from Raymond James maintained a Buy rating on Northland Power (NPIFFResearch Report), with a price target of C$32.00. The company’s shares closed last Monday at $20.13.

According to TipRanks.com, Quezada is a 4-star analyst with an average return of 9.7% and a 75.0% success rate. Quezada covers the Utilities sector, focusing on stocks such as Pattern Energy, Fortis, and Emera.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Northland Power with a $22.32 average price target, an 11.4% upside from current levels. In a report released today, BMO Capital also reiterated a Buy rating on the stock with a C$29.00 price target.

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Based on Northland Power’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $40.23 million. In comparison, last year the company had a net profit of $53.96 million.

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Northland Power, Inc. engages in the development, building, owning, and managing wind facilities. It operates through the following segments: Offshore Wind, Thermal, On-shore Renewables, and Other. The Offshore Wind segment comprises Gemini, Nordsee One, and Deutsche Bucht projects.