Capital Power (TSE:CPX) Sets New 52-Week High – What’s Next?

Capital Power Co. (TSE:CPX) reached a new 52-week high on Tuesday . The stock traded as high as C$59.23 and last traded at C$59.43, with a volume of 185817 shares changing hands. The stock had previously closed at C$58.48.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPX. ATB Capital boosted their target price on shares of Capital Power from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Desjardins lifted their price objective on Capital Power from C$56.00 to C$60.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada dropped their target price on Capital Power from C$54.00 to C$53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. TD Securities increased their price objective on shares of Capital Power from C$48.00 to C$57.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, BMO Capital Markets increased their price objective on shares of Capital Power from C$47.00 to C$56.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Capital Power has a consensus rating of “Hold” and a consensus price target of C$55.11.

Capital Power Price Performance

The stock’s 50 day moving average is C$51.99 and its two-hundred day moving average is C$44.55. 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 has a market capitalization of C$7.87 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64.

Capital Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.652 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.30%. Capital Power’s payout ratio is 51.68%.

Insider Buying and Selling at Capital Power

In other Capital Power news, Senior Officer Bryan Deneve sold 6,100 shares of the business’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. In the last three months, insiders have sold 6,300 shares of company stock valued at $317,981. 0.17% of the stock is owned by company insiders.

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.