Capital Power (TSE:CPX) Sets New 52-Week High After Analyst Upgrade

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Capital Power Corp (TSE:CPX) hit a new 52-week high during mid-day trading on Thursday after CIBC raised their price target on the stock from C$34.00 to C$35.00. The company traded as high as C$35.20 and last traded at C$35.20, with a volume of 91885 shares traded. The stock had previously closed at C$34.97.

CPX has been the subject of a number of other research reports. TD Securities upped their price objective on shares of Capital Power from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada upped their price objective on shares of Capital Power from C$31.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Raymond James set a C$36.00 price objective on shares of Capital Power and gave the company an “outperform” rating in a research note on Friday, December 6th. Scotiabank upped their price objective on shares of Capital Power from C$31.00 to C$34.00 in a research note on Friday, December 6th. Finally, BMO Capital Markets upped their price objective on shares of Capital Power from C$29.00 to C$32.00 in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$34.88.

In related news, Senior Officer Burness Kathryn Chisholm sold 18,697 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$32.10, for a total value of C$600,199.88. Following the completion of the transaction, the insider now owns 15,896 shares of the company’s stock, valued at C$510,283.85.

The stock has a market capitalization of $3.74 billion and a price-to-earnings ratio of 86.53. The firm’s fifty day moving average is C$34.26 and its 200-day moving average is C$31.67. The company has a debt-to-equity ratio of 117.38, a current ratio of 0.71 and a quick ratio of 0.30.

Capital Power (TSE:CPX) last posted its quarterly earnings results on Monday, October 28th. The company reported C$0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.58 by C$0.02. The company had revenue of C$484.00 million during the quarter. On average, sell-side analysts expect that Capital Power Corp will post 1.8099997 EPS for the current year.

About Capital Power (TSE:CPX)

Capital Power Corporation develops, acquires, owns, and operates power generation facilities in Canada and the United States. The company generates electricity from various energy sources, including natural and landfill gas, coal, wind, waste heat, solid fuels, and solar. It owns approximately 5,100 megawatts of power generation capacity.

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