Capital Power (TSE:CPX) Hits New 12-Month High on Analyst Upgrade

Capital Power Co. (TSE:CPX)’s stock price reached a new 52-week high during trading on Tuesday after Desjardins raised their price target on the stock from C$53.00 to C$54.00. Desjardins currently has a buy rating on the stock. Capital Power traded as high as C$43.83 and last traded at C$43.79, with a volume of 122045 shares traded. The stock had previously closed at C$43.17.

Other research analysts have also recently issued reports about the company. ATB Capital boosted their target price on Capital Power from C$40.00 to C$42.00 in a research note on Wednesday, July 24th. National Bankshares lifted their price target on shares of Capital Power from C$43.00 to C$44.00 in a research note on Thursday, August 1st. TD Securities boosted their price target on shares of Capital Power from C$47.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. CIBC raised their price objective on shares of Capital Power from C$42.00 to C$45.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Raymond James lowered their target price on shares of Capital Power from C$46.00 to C$45.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$45.56.

Insider Activity

In other Capital Power news, Senior Officer Bryan Deneve sold 2,441 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of C$40.38, for a total transaction of C$98,577.10. Company insiders own 0.17% of the company’s stock.

Capital Power Trading Up 1.2 %

The business’s 50-day moving average price is C$41.27 and its 200-day moving average price is C$38.84. The firm has a market capitalization of C$5.68 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. The company has a debt-to-equity ratio of 133.36, a current ratio of 0.88 and a quick ratio of 0.55.

Capital Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.652 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from Capital Power’s previous quarterly dividend of $0.62. This represents a $2.61 dividend on an annualized basis and a yield of 5.97%. Capital Power’s payout ratio is currently 51.68%.

About Capital Power

Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities.