Capital Power (TSE:CPX) Reaches New 52-Week High – Here’s Why

Capital Power Co. (TSE:CPX) hit 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 traded. The stock had previously closed at C$61.00.

Analyst Ratings Changes

Several brokerages have recently commented on CPX. ATB Capital upped their target price on Capital Power from C$55.00 to C$57.00 in a report on Wednesday. TD Securities upped their price objective on shares of Capital Power from C$48.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Royal Bank of Canada decreased their price objective on shares of Capital Power from C$54.00 to C$53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. National Bankshares raised their target price on Capital Power from C$47.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Atb Cap Markets lowered Capital Power from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Capital Power currently has an average rating of “Hold” and an average price target of C$55.33.

Capital Power Trading Down 0.5 %

The business has a 50-day moving average of C$53.52 and a 200-day moving average of C$45.46. 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 cap of C$8.09 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.91 and a beta of 0.64.

Capital Power Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $2.61 annualized dividend and a dividend yield of 4.19%. Capital Power’s dividend payout ratio is 51.68%.

Insider Activity at Capital Power

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