Capital Power (TSE:CPX) Hits New 1-Year High – Time to Buy?

Capital Power Co. (TSE:CPX)’s share price hit a new 52-week high during trading on Friday . The company traded as high as C$50.92 and last traded at C$50.91, with a volume of 183110 shares traded. The stock had previously closed at C$50.25.

Analyst Ratings Changes

CPX has been the topic of a number of analyst reports. Atb Cap Markets raised Capital Power from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 26th. Desjardins boosted their target price on Capital Power from C$53.00 to C$54.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Scotiabank boosted their target price on Capital Power from C$43.00 to C$46.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. TD Securities boosted their target price on Capital Power from C$47.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets boosted their target price on Capital Power from C$42.00 to C$47.00 in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$46.44.

Capital Power Stock Performance

The company has a market capitalization of C$6.57 billion, a PE ratio of 9.95, a PEG ratio of 0.91 and a beta of 0.63. The company has a 50 day moving average of C$45.22 and a two-hundred day moving average of C$40.83. The company has a debt-to-equity ratio of 133.46, a current ratio of 0.88 and a quick ratio of 0.55.

Capital Power (TSE:CPX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.51 earnings per share 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%. As a group, equities research analysts predict that Capital Power Co. will post 2.8211658 earnings per share for the current year.

Capital Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.652 dividend. This represents a $2.61 annualized dividend and a yield of 5.16%. This is an increase from Capital Power’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 30th. Capital Power’s payout ratio is 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.