Power Co. of Canada (TSE:POW) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Power Co. of Canada (TSE:POW) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$66.32 and traded as high as C$66.65. Power Co. of Canada shares last traded at C$65.70, with a volume of 1,222,307 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. TD Securities cut shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Scotiabank boosted their price target on Power Co. of Canada from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Thursday, February 19th. Jefferies Financial Group upped their price target on Power Co. of Canada from C$60.00 to C$68.00 in a research note on Friday, November 14th. BMO Capital Markets raised their price objective on Power Co. of Canada from C$60.00 to C$71.00 in a research note on Wednesday, November 12th. Finally, National Bank Financial boosted their target price on Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$73.25.

Power Co. of Canada Price Performance

The company has a market capitalization of C$40.99 billion, a P/E ratio of 13.64, a PEG ratio of 0.57 and a beta of 0.72. The stock’s fifty day simple moving average is C$68.42 and its 200-day simple moving average is C$66.30. The company has a debt-to-equity ratio of 84.71, a current ratio of 3.95 and a quick ratio of 107.64.

About Power Co. of Canada

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). Power Corp. bought out the remaining shares of Power Financial in February 2020.