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

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$62.46 and last traded at C$61.91, with a volume of 460074 shares trading hands. The stock had previously closed at C$61.00.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CPX. CIBC raised their price target on shares of Capital Power from C$52.00 to C$54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Atb Cap Markets lowered shares of Capital Power from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Desjardins lifted their target price on shares of Capital Power from C$56.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Scotiabank upgraded Capital Power from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$46.00 to C$60.00 in a report on Thursday, October 31st. Finally, Royal Bank of Canada lowered their price objective on Capital Power from C$54.00 to C$53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Capital Power currently has a consensus rating of “Hold” and a consensus target price of C$55.11.

Capital Power Stock Up 1.5 %

The firm has a market capitalization of C$8.04 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. 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 50-day moving average of C$52.90 and a two-hundred day moving average of C$45.09.

Capital Power Dividend Announcement

The company 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 dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Tuesday, December 31st. Capital Power’s payout ratio is currently 51.68%.

Insider Activity at Capital Power

In related news, Senior Officer Bryan Deneve sold 6,100 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$50.55, for a total value of C$308,355.00. Over the last quarter, insiders have sold 6,300 shares of company stock worth $317,981. 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.