Capital Power (TSE:CPX) Hits New 52-Week High After Analyst Upgrade

Capital Power Co. (TSE:CPX)’s share price reached a new 52-week high on Monday after National Bankshares raised their price target on the stock from C$44.00 to C$47.00. National Bankshares currently has an outperform rating on the stock. Capital Power traded as high as C$44.94 and last traded at C$44.74, with a volume of 51338 shares traded. The stock had previously closed at C$44.43.

Several other equities analysts also recently issued reports on CPX. ATB Capital upped their price objective on shares of Capital Power from C$40.00 to C$42.00 in a research note on Wednesday, July 24th. Scotiabank increased their target price on shares of Capital Power from C$43.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Desjardins raised their price objective on shares of Capital Power from C$53.00 to C$54.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Raymond James reduced their price objective 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 report on Thursday, April 25th. Finally, Royal Bank of Canada raised their price objective on shares of Capital Power from C$39.00 to C$44.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$45.89.

Insider Transactions at Capital Power

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

Capital Power Price Performance

The stock has a market capitalization of C$5.81 billion, a PE ratio of 8.80, a PEG ratio of 0.91 and a beta of 0.63. The company has a current ratio of 0.88, a quick ratio of 0.55 and a debt-to-equity ratio of 133.36. The company’s 50 day simple moving average is C$41.46 and its 200 day simple moving average is C$39.00.

Capital Power (TSE:CPX) last released its earnings results on Wednesday, July 31st. The company reported C$0.51 EPS for the quarter, missing the consensus estimate of C$0.63 by C($0.12). The firm had revenue of C$774.00 million during the quarter. Capital Power had a return on equity of 19.49% and a net margin of 16.77%. On average, equities analysts anticipate that Capital Power Co. will post 3.1359012 earnings per share for the current year.

Capital Power Increases Dividend

The company also recently announced 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. This is a boost from Capital Power’s previous quarterly dividend of $0.62. This represents a $2.61 annualized dividend and a yield of 5.83%. The ex-dividend date is Monday, September 30th. Capital Power’s payout ratio is presently 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.