Capital Power (TSE:CPX) Sets New 12-Month High – Here’s Why

Capital Power Co. (TSE:CPX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$73.84 and last traded at C$73.79, with a volume of 55955 shares. The stock had previously closed at C$72.69.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CPX. National Bank Financial lifted their price target on Capital Power from C$75.00 to C$82.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Wells Fargo & Company set a C$70.00 price objective on shares of Capital Power and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Desjardins set a C$82.00 target price on Capital Power and gave the company a “top pick” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Capital Power currently has a consensus rating of “Buy” and a consensus price target of C$78.56.

Capital Power Stock Performance

The company has a current ratio of 0.69, a quick ratio of 0.55 and a debt-to-equity ratio of 146.00. The company’s fifty day moving average is C$67.71 and its 200 day moving average is C$63.64. The company has a market cap of C$11.40 billion, a P/E ratio of -662.00, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60.

Capital Power (TSE:CPX) last posted its quarterly earnings results on Wednesday, April 29th. The company reported C$0.04 earnings per share for the quarter. Capital Power had a net margin of 0.66% and a return on equity of 0.49%. The business had revenue of C$1.18 billion during the quarter. As a group, equities analysts predict that Capital Power Co. will post 2.8197088 earnings per share for the current fiscal year.

Insider Activity at Capital Power

In other news, insider Jason Daniel Comandante sold 1,276 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$70.89, for a total value of C$90,455.64. Following the completion of the sale, the insider owned 8,711 shares of the company’s stock, valued at approximately C$617,522.79. The trade was a 12.78% decrease in their position. Corporate insiders own 0.17% of the company’s stock.

Capital Power Company Profile

Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.