Capital Power (TSE:CPX) Sets New 52-Week High – What’s Next?

Capital Power Co. (TSE:CPX)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$52.44 and last traded at C$52.35, with a volume of 22194 shares changing hands. The stock had previously closed at C$52.09.

Analyst Ratings Changes

Several research firms recently issued reports on CPX. Royal Bank of Canada lifted their price target on shares of Capital Power from C$39.00 to C$44.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. CIBC raised their price objective on Capital Power from C$42.00 to C$45.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Atb Cap Markets upgraded Capital Power from a “hold” rating to a “strong-buy” rating in a report on Monday, August 26th. Desjardins increased 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. Finally, BMO Capital Markets raised their price target on shares of Capital Power from C$42.00 to C$47.00 in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Capital Power presently has an average rating of “Moderate Buy” and an average target price of C$46.44.

Capital Power Trading Down 0.2 %

The firm’s 50 day simple moving average is C$47.04 and its two-hundred day simple moving average is C$41.73. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 133.46. The stock has a market cap of C$6.76 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64.

Capital Power (TSE:CPX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.51 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.12). Capital Power had a net margin of 16.77% and a return on equity of 19.49%. The business had revenue of C$774.00 million for the quarter. As a group, equities research analysts predict that Capital Power Co. will post 2.8197088 earnings per share for the current fiscal year.

Capital Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued 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 annualized dividend and a dividend yield of 5.02%. Capital Power’s dividend payout ratio (DPR) is 51.68%.

Insider Buying and Selling

In other news, Senior Officer Bryan Deneve sold 6,100 shares of Capital Power stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$50.55, for a total transaction of C$308,355.00. Insiders sold a total of 6,400 shares of company stock worth $322,274 in the last three months. 0.17% of the stock is 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.