Capital Power (TSE:CPX) Reaches New 52-Week High – Time to Buy?

Capital Power Co. (TSE:CPX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$56.89 and last traded at C$56.89, with a volume of 125801 shares trading hands. The stock had previously closed at C$55.66.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CPX. TD Securities lifted their price objective on shares of Capital Power from C$48.00 to C$57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. National Bankshares boosted their target price on Capital Power from C$47.00 to C$56.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Atb Cap Markets lowered shares of Capital Power from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. CIBC raised their price objective on shares of Capital Power from C$52.00 to C$54.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada decreased their price objective 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, October 31st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$55.11.

Capital Power Price Performance

The stock has a market capitalization of C$7.36 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. 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 50-day moving average price of C$49.37 and a 200 day moving average price of C$43.00.

Capital Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.652 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.61%. Capital Power’s dividend payout ratio (DPR) is 51.68%.

Insider Activity

In related news, Senior Officer Bryan Deneve sold 6,100 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of C$50.55, for a total transaction of C$308,355.00. Over the last three months, insiders have sold 6,300 shares of company stock valued at $317,981. 0.17% of the stock is currently owned by insiders.

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.