Capital Power (TSE:CPX) Hits New 52-Week High at $48.89

Capital Power Co. (TSE:CPX)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$48.89 and last traded at C$48.88, with a volume of 52183 shares changing hands. The stock had previously closed at C$48.55.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPX. Desjardins lifted their price objective on Capital Power from C$53.00 to C$54.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. ATB Capital increased their target price on shares of Capital Power from C$40.00 to C$42.00 in a research report on Wednesday, July 24th. Atb Cap Markets upgraded shares of Capital Power from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 26th. National Bankshares raised their price objective on shares of Capital Power from C$44.00 to C$47.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets lifted their target price on shares of Capital Power from C$42.00 to C$47.00 in a research note on Thursday, September 5th. Five equities research 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 MarketBeat, Capital Power currently has a consensus rating of “Moderate Buy” and an average price target of C$46.44.

Capital Power Price Performance

The business has a 50-day moving average of C$43.10 and a two-hundred day moving average of C$39.89. The company has a current ratio of 0.88, a quick ratio of 0.55 and a debt-to-equity ratio of 133.46. The firm has a market cap of C$6.36 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63.

Capital Power (TSE:CPX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.51 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts anticipate that Capital Power Co. will post 2.8198643 earnings per share for the current fiscal year.

Capital Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.652 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.61 annualized dividend and a dividend yield of 5.33%. This is a positive change from Capital Power’s previous quarterly dividend of $0.62. Capital Power’s payout ratio is currently 51.68%.

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.