Capital Power (TSE:CPX) Hits New 1-Year High After Dividend Announcement

Capital Power Co. (TSE:CPX)’s share price reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as C$43.50 and last traded at C$43.07, with a volume of 105627 shares. The stock had previously closed at C$41.46.

The newly announced dividend which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a yield of 6.08%. This is an increase from Capital Power’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, September 27th. Capital Power’s payout ratio is presently 47.04%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. National Bankshares increased their price objective on Capital Power from C$43.00 to C$44.00 in a research report on Thursday. Royal Bank of Canada lifted their price objective on Capital Power from C$39.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Thursday. Desjardins cut their target price on shares of Capital Power from C$53.00 to C$52.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. TD Securities lifted 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 research report on Thursday. Finally, BMO Capital Markets increased their price objective on shares of Capital Power from C$38.00 to C$42.00 in a report on Thursday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Capital Power currently has an average rating of “Moderate Buy” and a consensus price target of C$46.91.

Capital Power Price Performance

The company has a debt-to-equity ratio of 125.95, a quick ratio of 0.55 and a current ratio of 0.75. The business has a fifty day moving average of C$40.27 and a two-hundred day moving average of C$38.27. The firm has a market capitalization of C$5.53 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.91 and a beta of 0.58.

Capital Power (TSE:CPX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C$1.57 earnings per share for the quarter, beating the consensus estimate of C$0.64 by C$0.93. Capital Power had a return on equity of 19.80% and a net margin of 16.78%. The firm had revenue of C$1.12 billion during the quarter. As a group, research analysts predict that Capital Power Co. will post 3.1603928 EPS for the current fiscal year.

Insider Activity

In related news, Senior Officer Bryan Deneve acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average cost of C$37.14 per share, with a total value of C$185,700.00. 0.17% of the stock is owned by corporate insiders.

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.