Capital Power (TSE:CPX) Hits New 12-Month High – Should You Buy?

Capital Power Co. (TSE:CPX) shares reached a new 52-week high on Friday . The stock traded as high as C$71.72 and last traded at C$70.14, with a volume of 602636 shares traded. The stock had previously closed at C$67.17.

Wall Street Analysts Forecast Growth

CPX has been the topic of several analyst reports. Royal Bank Of Canada upgraded shares of Capital Power from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$65.00 to C$67.00 in a report on Thursday, July 31st. Jefferies Financial Group downgraded shares of Capital Power from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$59.00 to C$60.00 in a research report on Thursday, June 12th. Desjardins increased their price objective on shares of Capital Power from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Scotiabank increased their price objective on shares of Capital Power from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Finally, CIBC increased their price objective on shares of Capital Power from C$66.00 to C$72.00 in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Capital Power presently has an average rating of “Moderate Buy” and an average target price of C$68.78.

Capital Power Trading Up 2.4%

The firm has a market cap of C$10.67 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.91 and a beta of 0.47. The company has a debt-to-equity ratio of 136.03, a current ratio of 1.05 and a quick ratio of 0.55. The business’s 50-day moving average is C$60.54 and its two-hundred day moving average is C$55.69.

About Capital Power

Capital Power Corp is a North American power producer whose principal activities are developing, acquiring, and operating power plants. Through its subsidiary, Capital Power owns and operates a portfolio of natural gas, coal, wind, solar, and solid fuel energy generating facilities. These are located throughout Western and Central Canada and the U.S.