Capital Power (TSE:CPX) Reaches New 52-Week High Following Analyst Upgrade

Capital Power Co. (TSE:CPX)’s share price reached a new 52-week high on Thursday after BMO Capital Markets raised their price target on the stock from C$75.00 to C$85.00. BMO Capital Markets currently has an outperform rating on the stock. Capital Power traded as high as C$75.93 and last traded at C$75.69, with a volume of 56214 shares changing hands. The stock had previously closed at C$72.91.

Other equities analysts also recently issued reports about the stock. National Bank Financial increased their target price on shares of Capital Power from C$75.00 to C$82.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Wells Fargo & Company set a C$70.00 price target on Capital Power and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Desjardins upped their price target on Capital Power from C$82.00 to C$88.00 and gave the stock a “top pick” rating in a research note on Friday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$80.00.

Insider Activity at Capital Power

In other news, insider Jason Daniel Comandante sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$74.88, for a total value of C$112,320.00. Following the completion of the sale, the insider directly owned 8,711 shares in the company, valued at approximately C$652,279.68. The trade was a 14.69% decrease in their ownership of the stock. 0.17% of the stock is currently owned by corporate insiders.

Capital Power Stock Performance

The stock has a market cap of C$11.72 billion, a price-to-earnings ratio of -680.73, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. The company has a debt-to-equity ratio of 146.00, a quick ratio of 0.55 and a current ratio of 0.69. The stock’s 50-day simple moving average is C$70.07 and its two-hundred day simple moving average is C$65.00.

Capital Power (TSE:CPX) last issued its quarterly earnings results on Wednesday, April 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. The company had revenue of C$1.18 billion for the quarter. Capital Power had a return on equity of 0.49% and a net margin of 0.66%. Analysts forecast that Capital Power Co. will post 2.8197088 earnings per share for the current year.

Capital Power Company Profile

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.