Capital Power (TSE:CPX) Price Target Raised to C$60.00 at Desjardins

Capital Power (TSE:CPX) had its price target boosted by Desjardins from C$56.00 to C$60.00 in a report published on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on CPX. Royal Bank of Canada decreased their target price 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. Atb Cap Markets raised Capital Power from a “hold” rating to a “strong-buy” rating in a report on Monday, August 26th. Scotiabank raised Capital Power from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$46.00 to C$60.00 in a report on Thursday. CIBC boosted their price objective on shares of Capital Power from C$52.00 to C$54.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, TD Securities upped their price objective on shares of Capital Power from C$48.00 to C$57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Capital Power has an average rating of “Hold” and an average price target of C$55.11.

Capital Power Stock Performance

Shares of CPX opened at C$55.30 on Thursday. The company’s 50 day simple moving average is C$48.54 and its 200-day simple moving average is C$42.53. Capital Power has a 12-month low of C$33.90 and a 12-month high of C$56.82. The firm has a market cap of C$7.19 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. The company has a current ratio of 0.88, a quick ratio of 0.55 and a debt-to-equity ratio of 133.46.

Capital Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.652 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.61 annualized dividend and a dividend yield of 4.72%. Capital Power’s payout ratio is currently 51.68%.

Insider Activity

In related news, Senior Officer Bryan Deneve sold 6,100 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$50.55, for a total transaction of C$308,355.00. Insiders sold 6,400 shares of company stock worth $322,274 in the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

About Capital Power

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.