Capital Power (TSE:CPX) Reaches New 1-Year High After Analyst Upgrade

Shares of Capital Power Co. (TSE:CPX) reached a new 52-week high during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from C$75.00 to C$85.00. BMO Capital Markets currently has an outperform rating on the stock. Capital Power traded as high as C$75.93 and last traded at C$75.69, with a volume of 56214 shares trading hands. The stock had previously closed at C$72.91.

Several other equities analysts have also recently weighed in on the stock. Desjardins lifted their price objective on shares of Capital Power from C$82.00 to C$88.00 and gave the stock a “top pick” rating in a research report on Friday, July 3rd. National Bank Financial raised their target price on Capital Power from C$75.00 to C$82.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, Wells Fargo & Company set a C$70.00 target price on Capital Power and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$80.00.

Insiders Place Their Bets

In other news, insider Jason Daniel Comandante sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$74.88, for a total transaction of C$112,320.00. Following the completion of the sale, the insider directly owned 8,711 shares of the company’s stock, valued at C$652,279.68. This trade represents a 14.69% decrease in their position. 0.17% of the stock is currently owned by insiders.

Capital Power Stock Down 1.4%

The stock has a market cap of C$11.72 billion, a price-to-earnings ratio of -680.73, a P/E/G ratio of 0.91 and a beta of 0.63. The business has a fifty day moving average of C$70.07 and a 200 day moving average of C$65.00. The company has a debt-to-equity ratio of 146.00, a current ratio of 0.69 and a quick ratio of 0.55.

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

Capital Power Company Profile

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.