Capital Power (TSE:CPX) Reaches New 12-Month High at $46.55

Capital Power Co. (TSE:CPX)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$46.55 and last traded at C$46.50, with a volume of 56086 shares. The stock had previously closed at C$46.04.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CPX shares. Desjardins lifted their price objective on shares of Capital Power from C$53.00 to C$54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada raised their price objective on 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. National Bankshares upped their target price on Capital Power from C$44.00 to C$47.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Atb Cap Markets upgraded Capital Power from a “hold” rating to a “strong-buy” rating in a report on Monday, August 26th. Finally, ATB Capital raised their target price on shares of Capital Power from C$40.00 to C$42.00 in a report on Wednesday, July 24th. Five 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$46.44.

Capital Power Price Performance

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’s fifty day simple moving average is C$42.44 and its 200-day simple moving average is C$39.61. The company has a market capitalization of C$6.02 billion, a P/E ratio of 9.17, a PEG ratio of 0.91 and a beta of 0.63.

Capital Power (TSE:CPX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.51 EPS for the quarter, missing the consensus estimate of C$0.63 by C($0.12). The business 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%. On average, equities analysts forecast that Capital Power Co. will post 2.8198643 earnings per share for the current fiscal year.

Capital Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.652 per share. This represents a $2.61 annualized dividend and a yield of 5.63%. This is a positive change from Capital Power’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 30th. Capital Power’s payout ratio is currently 51.68%.

Insider Transactions at Capital Power

In other Capital Power news, Senior Officer Bryan Deneve sold 2,441 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of C$40.38, for a total value of C$98,577.10. In the last quarter, insiders have sold 2,641 shares of company stock valued at $107,488. 0.17% of the stock is owned by corporate 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.