Royal Bank of Canada Boosts Power Co. of Canada (TSE:POW) Price Target to C$47.00

Power Co. of Canada (TSE:POW) had its price target boosted by Royal Bank of Canada from C$46.00 to C$47.00 in a report released on Monday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the financial services provider’s stock.

Several other brokerages also recently commented on POW. National Bankshares upped their price objective on Power Co. of Canada from C$41.00 to C$42.00 in a research report on Thursday, May 9th. Jefferies Financial Group reduced their price target on shares of Power Co. of Canada from C$45.00 to C$44.00 in a research note on Friday, August 2nd. TD Securities boosted their price objective on shares of Power Co. of Canada from C$42.00 to C$44.00 in a research report on Friday, May 10th. BMO Capital Markets raised their target price on shares of Power Co. of Canada from C$41.00 to C$42.00 and gave the stock a market perform rating in a research report on Tuesday, May 7th. Finally, CIBC decreased their price target on shares of Power Co. of Canada from C$43.00 to C$40.00 in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of C$43.28.

Power Co. of Canada Trading Up 1.3 %

POW opened at C$38.27 on Monday. The company has a debt-to-equity ratio of 48.88, a quick ratio of 107.64 and a current ratio of 90.10. The stock’s 50 day moving average price is C$38.69 and its 200-day moving average price is C$38.58. Power Co. of Canada has a one year low of C$32.33 and a one year high of C$40.59. The stock has a market cap of C$22.77 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 0.95 and a beta of 1.10.

Power Co. of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.563 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.88%. Power Co. of Canada’s dividend payout ratio is presently 54.88%.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.