Capital Power (TSE:CPX) Sets New 1-Year High – Here’s Why

Capital Power Co. (TSE:CPX)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$56.89 and last traded at C$56.89, with a volume of 125801 shares traded. The stock had previously closed at C$55.66.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CPX. Royal Bank of Canada cut their price objective on shares of 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. National Bankshares increased their price objective on Capital Power from C$47.00 to C$56.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Scotiabank upgraded shares of Capital Power from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$46.00 to C$60.00 in a report on Thursday, October 31st. TD Securities upped 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 report on Tuesday, October 29th. Finally, ATB Capital lifted their target price on Capital Power from C$52.00 to C$55.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$55.11.

Capital Power Price Performance

The stock has a market cap of C$7.36 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.91 and a beta of 0.64. The company’s 50 day moving average price is C$49.37 and its 200-day moving average price is C$43.00. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 133.46.

Capital Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Tuesday, December 31st. Capital Power’s dividend payout ratio is presently 51.68%.

Insider Activity

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold 6,300 shares of company stock valued at $317,981 in the last ninety days. 0.17% of the stock is owned by company 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.