Capital Power (TSE:CPX) Price Target Raised to C$60.00

Capital Power (TSE:CPX) had its price objective boosted by equities researchers at Desjardins from C$56.00 to C$60.00 in a report issued on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 8.50% from the stock’s previous close.

Several other research firms have also weighed in on CPX. Royal Bank of Canada cut their target price on Capital Power from C$54.00 to C$53.00 and set a “sector perform” rating on the stock in a research note on Thursday. National Bankshares increased their price target on shares of Capital Power from C$44.00 to C$47.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Atb Cap Markets raised shares of Capital Power from a “hold” rating to a “strong-buy” rating in a report on Monday, August 26th. Scotiabank raised shares of Capital Power from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$46.00 to C$60.00 in a research report on Thursday. Finally, TD Securities lifted their price target on shares of Capital Power from C$48.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$55.11.

Capital Power Price Performance

Capital Power stock opened at C$55.30 on Thursday. The stock has a market cap of C$7.19 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.91 and a beta of 0.64. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 133.46. Capital Power has a 12-month low of C$33.90 and a 12-month high of C$56.82. The business’s 50-day simple moving average is C$48.30 and its 200 day simple moving average is C$42.40.

Capital Power (TSE:CPX) last released its earnings results on Wednesday, July 31st. The company reported C$0.51 EPS for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.12). The business had revenue of C$774.00 million for the quarter. Capital Power had a return on equity of 19.49% and a net margin of 16.77%. As a group, research analysts anticipate that Capital Power will post 2.8197088 earnings per share for the current year.

Insiders Place Their Bets

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of C$50.55, for a total transaction of C$308,355.00. Insiders sold a total of 6,400 shares of company stock valued at $322,274 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

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.