Capital Power (TSE:CPX) Given New C$46.00 Price Target at Scotiabank

Capital Power (TSE:CPX) had its price target lifted by Scotiabank from C$43.00 to C$46.00 in a research note published on Thursday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other brokerages have also weighed in on CPX. TD Securities lifted their price objective on Capital Power from C$47.00 to C$48.00 and gave the stock a buy rating in a report on Thursday. Royal Bank of Canada cut their price objective on Capital Power from C$41.00 to C$39.00 and set a sector perform rating for the company in a report on Thursday, May 2nd. CIBC boosted their price objective on Capital Power from C$41.00 to C$42.00 and gave the stock a neutral rating in a report on Monday, July 22nd. ATB Capital boosted their price objective on Capital Power from C$40.00 to C$42.00 in a report on Wednesday, July 24th. Finally, Desjardins cut their price objective on Capital Power from C$53.00 to C$52.00 and set a buy rating for the company in a report on Thursday, June 6th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Capital Power has a consensus rating of Moderate Buy and an average target price of C$46.91.

Capital Power Stock Down 0.1 %

TSE:CPX traded down C$0.05 during trading hours on Thursday, hitting C$43.31. 33,489 shares of the company traded hands, compared to its average volume of 469,198. Capital Power has a one year low of C$33.90 and a one year high of C$43.58. The company has a market cap of C$5.59 billion, a PE ratio of 8.29, a PEG ratio of 0.91 and a beta of 0.58. The firm’s 50-day simple moving average is C$40.27 and its 200-day simple moving average is C$38.27. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 125.95.

Capital Power (TSE:CPX) last announced its earnings results on Wednesday, May 1st. The company reported C$1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.64 by C$0.93. Capital Power had a return on equity of 19.80% and a net margin of 16.78%. The firm had revenue of C$1.12 billion during the quarter. Equities analysts predict that Capital Power will post 3.1603928 earnings per share for the current year.

Capital Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Capital Power’s previous quarterly dividend of $0.62. Capital Power’s dividend payout ratio is currently 47.04%.

Insider Activity at Capital Power

In other news, Senior Officer Bryan Deneve acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of C$37.14 per share, for a total transaction of C$185,700.00. 0.17% of the stock is owned by corporate insiders.

About Capital Power

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.