Capital Power (TSE:CPX) Hits New 52-Week High – Here’s What Happened

Capital Power Co. (TSE:CPX) hit a new 52-week high during trading on Monday . The stock traded as high as C$52.44 and last traded at C$52.35, with a volume of 22194 shares trading hands. The stock had previously closed at C$52.09.

Wall Street Analysts Forecast Growth

CPX has been the topic of several recent analyst reports. ATB Capital boosted their price objective on Capital Power from C$40.00 to C$42.00 in a report on Wednesday, July 24th. Atb Cap Markets upgraded Capital Power from a “hold” rating to a “strong-buy” rating in a report on Monday, August 26th. Scotiabank boosted their price target on Capital Power from C$43.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Desjardins lifted their target price on shares of Capital Power from C$53.00 to C$54.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada increased their price objective on Capital Power from C$39.00 to C$44.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$46.44.

Capital Power Stock Down 0.2 %

The company has a market capitalization of C$6.76 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 0.91 and a beta of 0.64. The business has a fifty day simple moving average of C$47.04 and a two-hundred day simple moving average of C$41.73. 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 (TSE:CPX) last announced its quarterly earnings results 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). Capital Power had a net margin of 16.77% and a return on equity of 19.49%. The company had revenue of C$774.00 million during the quarter. Equities analysts expect that Capital Power Co. will post 2.8197088 EPS for the current year.

Capital Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.652 dividend. This is a positive change from Capital Power’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 30th. This represents a $2.61 annualized dividend and a dividend yield of 5.02%. Capital Power’s dividend payout ratio is presently 51.68%.

Insider Buying and Selling

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 sold 6,400 shares of company stock worth $322,274 in the last quarter. 0.17% of the stock is owned by corporate 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.