Capital Power (TSE:CPX) Reaches New 12-Month High – Should You Buy?

Shares of Capital Power Co. (TSE:CPX) reached a new 52-week high on Wednesday . The company traded as high as C$73.84 and last traded at C$73.79, with a volume of 55955 shares traded. The stock had previously closed at C$72.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CPX shares. National Bank Financial lifted their price objective on shares of Capital Power from C$75.00 to C$82.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Wells Fargo & Company set a C$70.00 price objective on shares of Capital Power and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Desjardins set a C$82.00 price objective on shares of Capital Power and gave the stock a “top pick” rating in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$78.56.

Capital Power Trading Up 1.5%

The firm has a market cap of C$11.54 billion, a P/E ratio of -670.55, a P/E/G ratio of 0.91 and a beta of 0.60. The company has a debt-to-equity ratio of 146.00, a quick ratio of 0.55 and a current ratio of 0.69. The firm has a fifty day moving average of C$67.48 and a 200-day moving average of C$63.47.

Capital Power (TSE:CPX) last announced its quarterly earnings results on Wednesday, April 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. Capital Power had a return on equity of 0.49% and a net margin of 0.66%.The business had revenue of C$1.18 billion for the quarter. Equities research analysts forecast that Capital Power Co. will post 2.8197088 earnings per share for the current year.

Insider Activity

In other news, insider Jason Daniel Comandante sold 1,276 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$70.89, for a total transaction of C$90,455.64. Following the completion of the transaction, the insider owned 8,711 shares of the company’s stock, valued at approximately C$617,522.79. The trade was a 12.78% decrease in their ownership of the stock. Company insiders own 0.17% of the company’s stock.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.