Desjardins Forecasts Strong Price Appreciation for Capital Power (TSE:CPX) Stock

Capital Power (TSE:CPX) had its target price increased by Desjardins from C$60.00 to C$64.00 in a research note released on Wednesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on CPX. National Bankshares lifted their price objective on Capital Power from C$56.00 to C$65.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Securities upped their price target on shares of Capital Power from C$61.00 to C$70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Scotiabank increased their price objective on shares of Capital Power from C$66.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada lowered their target price on shares of Capital Power from C$54.00 to C$53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Finally, BMO Capital Markets increased their price target on Capital Power from C$56.00 to C$68.00 and gave the stock a “market perform” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Capital Power currently has an average rating of “Hold” and an average target price of C$61.22.

Capital Power Stock Down 0.9 %

Shares of Capital Power stock opened at C$62.76 on Wednesday. The company has a market cap of C$8.16 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 133.46. Capital Power has a twelve month low of C$33.90 and a twelve month high of C$68.73. The company’s 50 day moving average is C$57.04 and its 200 day moving average is C$47.68.

Capital Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.652 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.16%. Capital Power’s dividend payout ratio is presently 51.68%.

Insider Buying and Selling at Capital Power

In related news, Senior Officer Bryan Deneve sold 6,100 shares of Capital Power stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of C$50.55, for a total value of C$308,355.00. 0.17% of the stock is owned by insiders.

Capital Power Company Profile

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.