Capital Power (TSE:CPX) Hits New 12-Month High – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets raised their price objective on Capital Power from C$47.00 to C$56.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. ATB Capital increased 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 report 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. Desjardins raised their price target on Capital Power from C$56.00 to C$60.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, National Bankshares raised their target price on Capital Power from C$47.00 to C$56.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$55.11.

Capital Power Stock Performance

The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 133.46. The stock has a market capitalization of C$7.87 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. The stock’s 50-day simple moving average is C$51.99 and its 200 day simple moving average is C$44.55.

Capital Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.652 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.61 dividend on an annualized basis and a yield of 4.30%. Capital Power’s dividend payout ratio (DPR) is presently 51.68%.

Insider Buying and Selling at Capital Power

In other Capital Power news, Senior Officer Bryan Deneve sold 6,100 shares of the stock in a transaction dated 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 quarter, insiders sold 6,300 shares of company stock worth $317,981. 0.17% of the stock is currently owned by 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.