Capital Power (TSE:CPX) Upgraded by Atb Cap Markets to Strong-Buy

Atb Cap Markets upgraded shares of Capital Power (TSE:CPX) from a hold rating to a strong-buy rating in a report released on Monday, Zacks.com reports. Atb Cap Markets also issued estimates for Capital Power’s FY2024 earnings at $4.44 EPS.

Several other research firms have also issued reports on CPX. Royal Bank of Canada boosted their price target on Capital Power from C$39.00 to C$44.00 and gave the company a sector perform rating in a report on Thursday, August 1st. Scotiabank raised 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. ATB Capital upped their price target on shares of Capital Power from C$40.00 to C$42.00 in a research report on Wednesday, July 24th. BMO Capital Markets lifted their target price on shares of Capital Power from C$38.00 to C$42.00 in a research note on Thursday, August 1st. Finally, TD Securities increased their price target on Capital Power from C$47.00 to C$48.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of C$45.89.

Capital Power Trading Down 1.3 %

Capital Power stock opened at C$44.55 on Monday. The company has a debt-to-equity ratio of 133.46, a current ratio of 0.88 and a quick ratio of 0.55. The stock has a market capitalization of C$5.79 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. The business’s fifty day moving average is C$41.61 and its 200 day moving average is C$39.13. Capital Power has a one year low of C$33.90 and a one year high of C$45.15.

Capital Power (TSE:CPX) last posted its earnings results on Wednesday, July 31st. The company reported C$0.51 EPS for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.12). The company 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%.

Capital Power Increases Dividend

The company also recently disclosed 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 an increase from Capital Power’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 30th. This represents a $2.61 dividend on an annualized basis and a yield of 5.85%. Capital Power’s payout ratio is presently 51.68%.

Insider Activity at Capital Power

In other news, Senior Officer Bryan Deneve sold 2,441 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of C$40.38, for a total transaction of C$98,577.10. 0.17% of the stock is currently owned by 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.