Capital Power (TSE:CPX) Sets New 1-Year High After Dividend Announcement

Capital Power Co. (TSE:CPX) shares hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as C$43.50 and last traded at C$43.07, with a volume of 105627 shares. The stock had previously closed at C$41.46.

The newly announced dividend which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.652 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a yield of 6.08%. This is a boost from Capital Power’s previous quarterly dividend of $0.62. Capital Power’s dividend payout ratio (DPR) is presently 47.04%.

Analysts Set New Price Targets

CPX has been the topic of a number of research reports. Scotiabank raised their price objective on Capital Power from C$43.00 to C$46.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James reduced their price target on shares of Capital Power from C$46.00 to C$45.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. National Bankshares raised their target price on shares of Capital Power from C$43.00 to C$44.00 in a research note on Thursday. BMO Capital Markets increased their price target on Capital Power from C$38.00 to C$42.00 in a report on Thursday. Finally, Desjardins reduced their price objective on Capital Power from C$53.00 to C$52.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$46.91.

Capital Power Stock Performance

The company has a debt-to-equity ratio of 125.95, a quick ratio of 0.55 and a current ratio of 0.75. The firm has a 50 day moving average of C$40.27 and a 200-day moving average of C$38.27. The stock has a market capitalization of C$5.53 billion, a PE ratio of 8.29, a P/E/G ratio of 0.91 and a beta of 0.58.

Capital Power (TSE:CPX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported C$1.57 EPS for the quarter, topping the consensus estimate of C$0.64 by C$0.93. The business had revenue of C$1.12 billion during the quarter. Capital Power had a net margin of 16.78% and a return on equity of 19.80%. Research analysts forecast that Capital Power Co. will post 3.1603928 earnings per share for the current year.

Insider Buying and Selling at Capital Power

In other news, Senior Officer Bryan Deneve purchased 5,000 shares of Capital Power stock in a transaction dated Friday, May 10th. The stock was acquired at an average cost of C$37.14 per share, for a total transaction of C$185,700.00. Corporate insiders own 0.17% of the company’s stock.

Capital Power Company Profile

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.