Capital Power (TSE:CPX) Hits New 1-Year High – Here’s What Happened

Capital Power Co. (TSE:CPX) shares hit a new 52-week high during 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. The stock had previously closed at C$55.66.

Analyst Ratings Changes

CPX has been the subject of a number of analyst reports. Scotiabank upgraded shares of Capital Power from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$46.00 to C$60.00 in a research note on Thursday, October 31st. National Bankshares raised their price target on shares of Capital Power from C$47.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. ATB Capital lifted their target price on shares of Capital Power from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Royal Bank of Canada reduced 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 report on Thursday, October 31st. Finally, CIBC boosted their target price on Capital Power from C$52.00 to C$54.00 and gave the stock a “neutral” rating in a report 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$55.11.

Capital Power Stock Performance

The firm has a fifty day simple moving average of C$48.79 and a 200-day simple moving average of C$42.70. 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 stock has a market cap of C$7.59 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 0.91 and a beta of 0.64.

Capital Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.652 per share. This represents a $2.61 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, December 31st. Capital Power’s dividend payout ratio is 51.68%.

Insiders Place Their Bets

In other Capital Power news, Senior Officer Bryan Deneve sold 6,100 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$50.55, for a total transaction of C$308,355.00. In the last quarter, insiders have sold 6,300 shares of company stock valued at $317,981. 0.17% of the stock is currently owned by corporate insiders.

Capital Power Company Profile

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.