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

Capital Power Co. (TSE:CPX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$58.78 and traded as high as C$73.65. Capital Power shares last traded at C$71.54, with a volume of 1,238,251 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPX. Scotiabank increased their target price on shares of Capital Power from C$75.00 to C$80.00 and gave the company a “sector perform” rating in a report on Monday, October 20th. National Bankshares increased their price target on shares of Capital Power from C$64.00 to C$66.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. CIBC raised their target price on shares of Capital Power from C$72.00 to C$85.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. ATB Capital raised their target price on shares of Capital Power from C$60.00 to C$68.00 and gave the company a “sector perform” rating in a research note on Friday, September 19th. Finally, Desjardins raised their target price on shares of Capital Power from C$80.00 to C$83.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$72.33.

Capital Power Stock Performance

The company has a market capitalization of C$11.10 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 0.91 and a beta of 0.49. The company has a debt-to-equity ratio of 136.03, a quick ratio of 0.55 and a current ratio of 1.05. The company’s fifty day simple moving average is C$64.77 and its two-hundred day simple moving average is C$58.78.

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.