Desjardins Forecasts Strong Price Appreciation for Capital Power (TSE:CPX) Stock

Capital Power (TSE:CPX) had its target price raised by investment analysts at Desjardins from C$56.00 to C$60.00 in a research report issued on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 6.86% from the stock’s current price.

A number of other research firms have also weighed in on CPX. ATB Capital lifted their target price on Capital Power from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a report on Thursday. National Bankshares raised their price target on shares of Capital Power from C$44.00 to C$47.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Royal Bank of Canada decreased their price target on shares of Capital Power from C$54.00 to C$53.00 and set a “sector perform” rating on the stock in a report on Thursday. TD Securities upped their price objective on shares of Capital Power from C$48.00 to C$57.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Scotiabank upgraded 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 research report on Thursday. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$55.11.

Capital Power Stock Performance

TSE CPX traded up C$1.85 during trading on Thursday, hitting C$56.15. 419,916 shares of the company’s stock traded hands, compared to its average volume of 466,870. The company has a debt-to-equity ratio of 133.46, a quick ratio of 0.55 and a current ratio of 0.88. The stock has a market capitalization of C$7.30 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.91 and a beta of 0.64. Capital Power has a 12-month low of C$33.90 and a 12-month high of C$56.82. The business has a 50 day moving average of C$48.03 and a 200-day moving average of C$42.30.

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 analysts’ consensus estimates of C$0.63 by C($0.12). The business had revenue of C$774.00 million for the quarter. Capital Power had a net margin of 16.77% and a return on equity of 19.49%. As a group, equities research analysts anticipate that Capital Power will post 2.8197088 earnings per share for the current fiscal year.

Insider Transactions at Capital Power

In other Capital Power news, Senior Officer Bryan Deneve sold 6,100 shares of the business’s stock in a transaction 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. Over the last ninety days, insiders sold 6,400 shares of company stock worth $322,274. 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.