BMO Capital Markets Cuts Capital Power (TSE:CPX) Price Target to C$81.00

Capital Power (TSE:CPX) had its price target trimmed by BMO Capital Markets from C$85.00 to C$81.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on CPX. Wells Fargo & Company increased their target price on shares of Capital Power from C$72.00 to C$75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Canadian Imperial Bank of Commerce lowered their price target on shares of Capital Power from C$85.00 to C$83.00 in a report on Thursday. National Bank Financial upped their price target on shares of Capital Power from C$75.00 to C$82.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Desjardins increased their price objective on Capital Power from C$82.00 to C$88.00 and gave the stock a “top pick” rating in a report on Friday, July 3rd. Finally, Scotiabank cut their price objective on Capital Power from C$80.00 to C$79.00 and set a “sector outperform” rating for the company in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Capital Power presently has an average rating of “Buy” and a consensus target price of C$80.11.

Capital Power Price Performance

TSE CPX opened at C$65.87 on Thursday. The company has a 50 day simple moving average of C$71.92 and a 200-day simple moving average of C$66.25. The company has a debt-to-equity ratio of 150.64, a current ratio of 0.80 and a quick ratio of 0.55. The firm has a market capitalization of C$10.31 billion, a price-to-earnings ratio of -598.82, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. Capital Power has a 52-week low of C$56.08 and a 52-week high of C$77.02.

Capital Power (TSE:CPX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C($0.33) EPS for the quarter. Capital Power had a return on equity of 2.31% and a net margin of 3.05%.The company had revenue of C$714.00 million for the quarter. Equities research analysts predict that Capital Power will post 2.8197088 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jason Daniel Comandante sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$74.88, for a total value of C$112,320.00. Following the transaction, the insider owned 8,711 shares in the company, valued at approximately C$652,279.68. This represents a 14.69% decrease in their ownership of the stock. Corporate insiders own 0.17% of the company’s stock.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.