Capital Power (TSE:CPX) Hits New 52-Week High – Should You Buy?

Capital Power Co. (TSE:CPX) shares hit a new 52-week high 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. CIBC upped their price objective on Capital Power from C$42.00 to C$45.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Securities increased their price objective on Capital Power from C$47.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Scotiabank boosted their target price on Capital Power from C$43.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Desjardins upped their target price on shares of 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 target price on shares of Capital Power from C$42.00 to C$47.00 in a report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Capital Power currently has a consensus rating of “Moderate Buy” and a consensus target price of C$46.44.

Capital Power Stock Performance

The company has a debt-to-equity ratio of 133.46, a quick ratio of 0.55 and a current ratio of 0.88. The stock has a market cap of C$6.71 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.91 and a beta of 0.64. The business’s 50-day moving average price is C$47.20 and its 200-day moving average price is C$41.80.

Capital Power (TSE:CPX) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of C$774.00 million for the quarter. As a group, sell-side analysts expect that Capital Power Co. will post 2.8197088 earnings per share for the current fiscal year.

Capital Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.652 per share. This is a boost from Capital Power’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.61 dividend on an annualized basis and a yield of 5.05%. Capital Power’s dividend payout ratio (DPR) is presently 51.68%.

Insiders Place Their Bets

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were 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 over the last three months. 0.17% of the stock is currently owned by company 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.