Capital Power (TSE:CPX) Sets New 12-Month High Following Analyst Upgrade

Capital Power Co. (TSE:CPX)’s stock price reached a new 52-week high on Thursday after TD Securities raised their price target on the stock from C$61.00 to C$70.00. TD Securities currently has a buy rating on the stock. Capital Power traded as high as C$66.87 and last traded at C$66.18, with a volume of 801303 shares trading hands. The stock had previously closed at C$61.88.

CPX has been the topic of a number of other research reports. CIBC upped their price target on shares of Capital Power from C$52.00 to C$54.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Scotiabank raised shares of Capital Power from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$46.00 to C$60.00 in a research note on Thursday, October 31st. Atb Cap Markets cut Capital Power from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. National Bankshares boosted their price target on Capital Power from C$47.00 to C$56.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Desjardins increased their price objective on Capital Power from C$56.00 to C$60.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$56.78.

Insider Activity at Capital Power

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$50.55, for a total transaction of C$308,355.00. Over the last ninety days, insiders sold 6,300 shares of company stock valued at $317,981. Insiders own 0.17% of the company’s stock.

Capital Power Price Performance

The business has a fifty day moving average of C$55.34 and a two-hundred day moving average of C$46.50. The company has a debt-to-equity ratio of 133.46, a quick ratio of 0.55 and a current ratio of 0.88. The firm has a market capitalization of C$8.82 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64.

Capital Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.652 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.61 annualized dividend and a dividend yield of 3.84%. Capital Power’s dividend payout ratio is currently 51.68%.

Capital Power Company Profile

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.