CIBC Forecasts Strong Price Appreciation for Capital Power (TSE:CPX) Stock

Capital Power (TSE:CPX) had its price objective upped by CIBC from C$52.00 to C$54.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. TD Securities boosted their target price on Capital Power from C$48.00 to C$57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Atb Cap Markets upgraded shares of Capital Power from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 26th. Scotiabank upgraded shares of Capital Power from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$46.00 to C$60.00 in a research report on Thursday. ATB Capital increased their price target on shares of Capital Power from C$40.00 to C$42.00 in a report on Wednesday, July 24th. Finally, National Bankshares lifted their price objective on shares of Capital Power from C$44.00 to C$47.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$55.11.

Capital Power Stock Down 2.1 %

CPX opened at C$55.30 on Thursday. The firm has a market capitalization of C$7.19 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. Capital Power has a one year low of C$33.90 and a one year high of C$56.82. The company has a fifty day moving average price of C$48.54 and a 200-day moving average price of C$42.53. The company has a debt-to-equity ratio of 133.46, a current ratio of 0.88 and a quick ratio of 0.55.

Capital Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.652 per share. This represents a $2.61 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Tuesday, December 31st. Capital Power’s dividend payout ratio is currently 51.68%.

Insider Buying and Selling

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of C$50.55, for a total transaction of C$308,355.00. Insiders have sold a total of 6,400 shares of company stock worth $322,274 in the last 90 days. 0.17% of the stock is owned by company 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.