Capital Power (TSE:CPX – Free Report) had its price objective upped by Royal Bank of Canada from C$39.00 to C$44.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.
Several other research analysts also recently weighed in on the stock. TD Securities upped their price target on shares of Capital Power from C$47.00 to C$48.00 and gave the stock a buy rating in a research report on Thursday. Desjardins reduced their price target on shares of Capital Power from C$53.00 to C$52.00 and set a buy rating for the company in a research report on Thursday, June 6th. ATB Capital upped their price target on shares of Capital Power from C$40.00 to C$42.00 in a research report on Wednesday, July 24th. Raymond James reduced their price target on shares of Capital Power from C$46.00 to C$45.00 and set a market perform rating for the company in a research report on Thursday, April 25th. Finally, National Bankshares upped their price target on shares of Capital Power from C$43.00 to C$44.00 in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Capital Power presently has an average rating of Hold and an average target price of C$46.50.
Read Our Latest Stock Analysis on Capital Power
Capital Power Trading Down 1.2 %
Capital Power Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.652 dividend. This is an increase from Capital Power’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a yield of 6.08%. Capital Power’s dividend payout ratio is presently 47.04%.
Insider Activity
In other news, Senior Officer Bryan Deneve sold 2,441 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of C$40.38, for a total value of C$98,577.10. Corporate insiders own 0.17% of the company’s stock.
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.
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