Scotiabank Upgrades Capital Power (TSE:CPX) to Outperform

Capital Power (TSE:CPX) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a C$60.00 target price on the stock, up from their previous target price of C$46.00. Scotiabank’s price target suggests a potential upside of 6.86% from the stock’s previous close.

Several other brokerages have also commented on CPX. Desjardins boosted their price target 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. Atb Cap Markets upgraded shares of Capital Power from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets increased their target price on shares of Capital Power from C$42.00 to C$47.00 in a research report on Thursday, September 5th. ATB Capital boosted their price target on shares of Capital Power from C$40.00 to C$42.00 in a research report on Wednesday, July 24th. Finally, CIBC upped their price objective on shares of Capital Power from C$42.00 to C$45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Five investment 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 company. Based on data from MarketBeat.com, Capital Power presently has an average rating of “Moderate Buy” and a consensus price target of C$55.11.

Capital Power Price Performance

Shares of TSE:CPX traded up C$1.85 during midday trading on Thursday, reaching C$56.15. 419,916 shares of the company’s stock were exchanged, compared to its average volume of 466,870. 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 company’s 50 day simple moving average is C$48.03 and its two-hundred day simple moving average is C$42.30. Capital Power has a 12 month low of C$33.90 and a 12 month high of C$56.82. The firm has a market capitalization of C$7.30 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64.

Capital Power (TSE:CPX) last announced its quarterly 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). Capital Power had a return on equity of 19.49% and a net margin of 16.77%. The business had revenue of C$774.00 million for the quarter. Equities research analysts expect that Capital Power will post 2.8197088 earnings per share for the current fiscal year.

Insider Buying and Selling at Capital Power

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the business’s stock in a transaction 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. In the last ninety days, insiders have sold 6,400 shares of company stock worth $322,274. Insiders own 0.17% of the company’s stock.

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.