Companies

Brokerages Set Target Price for Capital Power Co. (TSE:CPX) at C$47.44

Published November 3, 2024

On November 3rd, 2024, several brokerages analyzed Capital Power Co. (TSE:CPX) and set a consensus recommendation of "Hold" for the stock, as reported by MarketBeat.com. Out of ten brokerages covering the company, six analysts have rated the stock as a hold while four have assigned it a buy rating. The average price target over the next twelve months among analysts who commented on the stock in the past year stands at C$55.11.

In recent research updates, National Bankshares noted an increased price target for Capital Power, elevating their estimate from C$47.00 to C$56.00 while offering an "outperform" rating. Similarly, TD Securities raised their price objective from C$48.00 to C$57.00, assigning a buy rating to the stock. In another report, Scotiabank adjusted their view from a "sector perform" rating to an "outperform" rating and increased their price target from C$46.00 to C$60.00. Desjardins also raised their price target from C$56.00 to C$60.00 with a buy recommendation. Additionally, ATB Capital adjusted their price objective from C$52.00 to C$55.00 while maintaining a "sector perform" rating.

Insider Activity at Capital Power

In related news, a senior officer, Bryan Deneve, sold 6,100 shares of Capital Power's stock on October 4th for a total of C$308,355. Over the past three months, insiders have sold around 6,400 shares, totaling approximately C$322,274, indicating that corporate insiders currently own about 0.17% of the stock.

Recent Stock Performance of Capital Power

On Thursday, TSE CPX opened at C$55.30. The company has shown fluctuations in its financial ratios, including a debt-to-equity ratio of 133.46, a quick ratio of 0.55, and a current ratio of 0.88. Currently, the stock's 50-day simple moving average is C$48.54, while the 200-day moving average is C$42.49. Capital Power's stock has experienced a twelve-month low of C$33.90 and a high of C$56.82, contributing to a market capitalization of C$7.19 billion. The company reports a PE ratio of 10.95, a PEG ratio of 0.91, and a beta of 0.64.

Capital Power released its most recent earnings results on July 31st. The company reported earnings per share of C$0.51 for the quarter, which was lower than the consensus estimate of C$0.63 by C($0.12). The company holds a net margin of 16.77% and a return on equity of 19.49%, with revenue reported at C$774.00 million for the quarter. Analysts expect Capital Power to achieve an EPS of approximately 2.82 for the current year.

Dividend Announcement by Capital Power

Recently, Capital Power declared a quarterly dividend scheduled to be paid on January 31st. Shareholders registered as of December 31st will receive a dividend of $0.652 per share. The ex-dividend date will also be December 31st, which translates to an annualized dividend of $2.61 and a dividend yield of 4.72%. The company's dividend payout ratio currently stands at 51.68%.

Company Overview

Capital Power Corporation is involved in developing, acquiring, owning, and operating renewable and thermal power generation facilities primarily in Canada and the United States. It generates electricity using a variety of energy sources, including wind, solar, waste heat, natural gas, and coal, and has a power generation capacity of approximately 7,500 megawatts across 29 facilities.

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