Desjardins Issues Positive Forecast for Capital Power (TSE:CPX) Stock Price

Capital Power (TSE:CPX) had its target price hoisted by research analysts at Desjardins from C$56.00 to C$60.00 in a research report issued on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 6.86% from the company’s current price.

Other analysts also recently issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Capital Power from C$42.00 to C$47.00 in a report on Thursday, September 5th. TD Securities boosted their target price on shares of Capital Power from C$48.00 to C$57.00 and gave the company a “buy” rating in a research report on Tuesday. CIBC boosted their target price on Capital Power from C$52.00 to C$54.00 and gave the stock a “neutral” rating in a research note on Thursday. 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. Finally, Scotiabank upgraded shares of Capital Power from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$46.00 to C$60.00 in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$55.11.

Capital Power Stock Performance

Shares of TSE CPX traded up C$1.85 during midday trading on Thursday, hitting 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 quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 133.46. 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 has a 12 month low of C$33.90 and a 12 month high of C$56.82. The company’s 50 day moving average price is C$48.03 and its 200 day moving average price is C$42.30.

Capital Power (TSE:CPX) last released its quarterly earnings data 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 company had revenue of C$774.00 million during the quarter. Capital Power had a net margin of 16.77% and a return on equity of 19.49%. As a group, analysts predict that Capital Power will post 2.8197088 earnings per share for the current fiscal year.

Insider Transactions at Capital Power

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$50.55, for a total transaction of C$308,355.00. In the last 90 days, insiders have sold 6,400 shares of company stock worth $322,274. Company insiders own 0.17% of the company’s stock.

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.