Brokers Issue Forecasts for Capital Power FY2024 Earnings

Capital Power Co. (TSE:CPX) – Analysts at National Bank Financial lifted their FY2024 earnings per share estimates for shares of Capital Power in a research note issued to investors on Tuesday, December 17th. National Bank Financial analyst P. Kenny now anticipates that the company will earn $4.46 per share for the year, up from their prior estimate of $4.43. The consensus estimate for Capital Power’s current full-year earnings is $2.82 per share.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada decreased their target price on shares of Capital Power from C$54.00 to C$53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. BMO Capital Markets lifted their price objective on Capital Power from C$56.00 to C$68.00 and gave the stock a “market perform” rating in a report on Wednesday. Scotiabank increased their target price on Capital Power from C$66.00 to C$69.00 and gave the company an “outperform” rating in a report on Wednesday. CIBC raised their price target on Capital Power from C$52.00 to C$54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, TD Securities boosted their price objective on Capital Power from C$61.00 to C$70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$61.22.

Capital Power Stock Down 0.3 %

Shares of CPX opened at C$62.60 on Thursday. Capital Power has a 1 year low of C$33.90 and a 1 year high of C$68.73. The company has a debt-to-equity ratio of 133.46, a current ratio of 0.88 and a quick ratio of 0.55. The stock has a 50 day simple moving average of C$57.29 and a two-hundred day simple moving average of C$47.86. The firm has a market cap of C$8.13 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.91 and a beta of 0.64.

Capital Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.652 dividend. This represents a $2.61 annualized dividend and a yield of 4.17%. The ex-dividend date is Tuesday, December 31st. Capital Power’s dividend payout ratio (DPR) is currently 51.68%.

Insider Buying and Selling at Capital Power

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$50.55, for a total value of C$308,355.00. Insiders own 0.17% of the company’s stock.

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.