Power Co. of Canada (OTCMKTS:PWCDF) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Power Co. of Canada (OTCMKTS:PWCDF) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $66.06 and traded as high as $66.82. Power Co. of Canada shares last traded at $66.59, with a volume of 178,587 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PWCDF shares. BMO Capital Markets reiterated a “market perform” rating on shares of Power Co. of Canada in a research note on Friday, October 23rd. Jefferies Financial Group upgraded Power Co. of Canada from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. TD Securities reaffirmed a “hold” rating on shares of Power Co. of Canada in a report on Friday, July 31st. Finally, Scotiabank reiterated an “outperform” rating on shares of Power Co. of Canada in a research report on Wednesday, October 28th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Power Co. of Canada Stock Up 1.6%

The business’s 50 day moving average is $66.06 and its two-hundred day moving average is $59.32.

Hedge Funds Weigh In On Power Co. of Canada

An institutional investor recently raised its stake in Power Co. of Canada stock. Cullen Capital Management LLC increased its stake in Power Co. of Canada (OTCMKTS:PWCDF) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 886,766 shares of the company’s stock after purchasing an additional 18,490 shares during the quarter. Cullen Capital Management LLC’s holdings in Power Co. of Canada were worth $55,121,000 at the end of the most recent quarter. 41.73% of the stock is currently owned by institutional investors and hedge funds.

About Power Co. of Canada

Power Corporation of Canada is a Canadian management and holding company focused primarily on financial services and other long-term investments. Through its principal holdings, the company has exposure to insurance, retirement and investment products, wealth management, asset management, and related financial solutions. Power Corporation’s major investments include Great-West Lifeco, which provides life and health insurance, retirement and investment services, and investment management, and IGM Financial, which offers wealth and asset management services through businesses such as IG Wealth Management and Mackenzie Investments.