Scotiabank Raises Capital Power (TSE:CPX) Price Target to C$43.00

Capital Power (TSE:CPX) had its price objective raised by Scotiabank from C$40.00 to C$43.00 in a research note released on Wednesday morning, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

CPX has been the subject of a number of other reports. TD Securities dropped their target price on shares of Capital Power from C$49.00 to C$47.00 in a report on Thursday, May 2nd. Raymond James lowered their price objective on shares of Capital Power from C$46.00 to C$45.00 and set a market perform rating for the company in a report on Thursday, April 25th. Desjardins lowered their price objective on shares of Capital Power from C$53.00 to C$52.00 and set a buy rating for the company in a report on Thursday, June 6th. Royal Bank of Canada lowered their price objective on shares of Capital Power from C$41.00 to C$39.00 and set a sector perform rating for the company in a report on Thursday, May 2nd. Finally, BMO Capital Markets lowered their price objective on shares of Capital Power from C$40.00 to C$38.00 and set a market perform rating for the company in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Capital Power has a consensus rating of Hold and an average price target of C$45.09.

Capital Power Stock Performance

Shares of TSE:CPX opened at C$41.85 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 125.95. The company has a 50-day moving average price of C$37.63 and a 200-day moving average price of C$37.56. The company has a market cap of C$5.40 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.91 and a beta of 0.58. Capital Power has a 12 month low of C$33.90 and a 12 month high of C$45.21.

Capital Power (TSE:CPX) last posted its earnings results on Wednesday, May 1st. The company reported C$1.57 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.64 by C$0.93. The company had revenue of C$1.12 billion during the quarter. Capital Power had a net margin of 16.78% and a return on equity of 19.80%. As a group, equities analysts anticipate that Capital Power will post 3.1603928 EPS for the current year.

Capital Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend is Friday, June 28th. Capital Power’s dividend payout ratio is 47.04%.

Insider Activity at Capital Power

In other news, Senior Officer Bryan Deneve purchased 5,000 shares of Capital Power stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of C$35.80 per share, with a total value of C$179,005.00. In other news, Senior Officer Bryan Deneve purchased 5,000 shares of Capital Power stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of C$35.80 per share, with a total value of C$179,005.00. Also, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$39.22, for a total transaction of C$204,296.98. 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.