Capital Power (TSE:CPX) Hits New 12-Month High After Analyst Upgrade

Capital Power Corp (TSE:CPX)’s stock price hit a new 52-week high during mid-day trading on Thursday after CIBC raised their price target on the stock from C$34.00 to C$35.00. The company traded as high as C$35.20 and last traded at C$35.20, with a volume of 91885 shares changing hands. The stock had previously closed at C$34.97.

A number of other equities research analysts have also issued reports on CPX. BMO Capital Markets lifted their target price on shares of Capital Power from C$29.00 to C$32.00 in a research note on Friday, December 6th. National Bank Financial lifted their target price on shares of Capital Power from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Scotiabank lifted their target price on shares of Capital Power from C$31.00 to C$34.00 in a research note on Friday, December 6th. TD Securities lifted their target price on shares of Capital Power from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada lifted their target price on shares of Capital Power from C$31.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of C$34.88.

In other Capital Power news, Senior Officer Burness Kathryn Chisholm sold 18,697 shares of Capital Power stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$32.10, for a total transaction of C$600,199.88. Following the completion of the sale, the insider now owns 15,896 shares of the company’s stock, valued at approximately C$510,283.85.

The company has a debt-to-equity ratio of 117.38, a quick ratio of 0.30 and a current ratio of 0.71. The firm’s 50 day moving average is C$34.26 and its 200-day moving average is C$31.67. The firm has a market cap of $3.74 billion and a price-to-earnings ratio of 86.53.

Capital Power (TSE:CPX) last released its quarterly earnings data on Monday, October 28th. The company reported C$0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.58 by C$0.02. The business had revenue of C$484.00 million during the quarter. As a group, research analysts predict that Capital Power Corp will post 1.8099997 EPS for the current year.

Capital Power Company Profile (TSE:CPX)

Capital Power Corporation develops, acquires, owns, and operates power generation facilities in Canada and the United States. The company generates electricity from various energy sources, including natural and landfill gas, coal, wind, waste heat, solid fuels, and solar. It owns approximately 5,100 megawatts of power generation capacity.

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