Capital Power (TSE:CPX) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Capital Power Co. (TSE:CPX) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$67.17 and traded as low as C$65.35. Capital Power shares last traded at C$65.68, with a volume of 413,675 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CPX shares. Desjardins boosted their target price on shares of Capital Power from C$82.00 to C$88.00 and gave the company a “top pick” rating in a report on Friday, July 3rd. Scotiabank reduced their price target on Capital Power from C$80.00 to C$79.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce decreased their price objective on Capital Power from C$85.00 to C$83.00 in a research note on Thursday, July 30th. Wells Fargo & Company increased their price objective on Capital Power from C$72.00 to C$75.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Finally, BMO Capital Markets cut their target price on Capital Power from C$85.00 to C$81.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$80.11.

Capital Power Stock Performance

The company’s fifty day simple moving average is C$69.85 and its 200 day simple moving average is C$67.16. The stock has a market capitalization of C$10.16 billion, a P/E ratio of 113.53, a P/E/G ratio of 0.91 and a beta of 0.64. The company has a current ratio of 0.80, a quick ratio of 0.55 and a debt-to-equity ratio of 150.64.

Capital Power (TSE:CPX) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.33) earnings per share (EPS) for the quarter. Capital Power had a return on equity of 2.31% and a net margin of 3.05%.The business had revenue of C$714.00 million during the quarter. As a group, sell-side analysts forecast that Capital Power Co. will post 2.8197088 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jason Daniel Comandante sold 1,500 shares of the business’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 transaction, the insider owned 8,711 shares of the company’s stock, valued at approximately C$652,279.68. The trade was a 14.69% decrease in their ownership of the stock. Company insiders own 0.17% of the company’s stock.

About Capital Power

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.