Capital Power (TSE:CPX) Reaches New 1-Year High Following Analyst Upgrade

Capital Power Co. (TSE:CPX)’s stock price hit a new 52-week high on Thursday after TD Securities raised their price target on the stock from C$61.00 to C$70.00. TD Securities currently has a buy rating on the stock. Capital Power traded as high as C$66.87 and last traded at C$66.18, with a volume of 801303 shares traded. The stock had previously closed at C$61.88.

Other equities research analysts have also issued reports about the company. Desjardins increased their price target on Capital Power from C$56.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. ATB Capital increased their target price on Capital Power from C$55.00 to C$57.00 in a report on Wednesday, November 27th. National Bankshares upped their price target on shares of Capital Power from C$47.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their price objective on shares of Capital Power from C$47.00 to C$56.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, Atb Cap Markets downgraded shares of Capital Power from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$56.78.

Insider Transactions at Capital Power

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$50.55, for a total value of C$308,355.00. Insiders sold a total of 6,300 shares of company stock worth $317,981 in the last quarter. 0.17% of the stock is owned by company insiders.

Capital Power Price Performance

The company’s 50 day simple moving average is C$55.34 and its 200 day simple moving average is C$46.50. 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 cap of C$8.82 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.91 and a beta of 0.64.

Capital Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.652 per share. This represents a $2.61 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Tuesday, December 31st. Capital Power’s payout ratio is presently 51.68%.

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.