Capital Power (TSE:CPX) Sets New 52-Week Low Following Analyst Downgrade

Capital Power Co. (TSE:CPX) reached a new 52-week low on Wednesday after Desjardins lowered their price target on the stock from C$51.00 to C$49.00. Desjardins currently has a buy rating on the stock. Capital Power traded as low as C$34.09 and last traded at C$34.69, with a volume of 271074 shares changing hands. The stock had previously closed at C$35.93.

Several other equities analysts also recently commented on CPX. National Bankshares lowered their price objective on Capital Power from C$48.00 to C$45.00 in a research report on Wednesday, January 17th. Raymond James reduced their price objective 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. Royal Bank of Canada dropped their target price on shares of Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating for the company in a research report on Thursday, February 29th. CIBC reduced their price target on shares of Capital Power from C$43.00 to C$40.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Scotiabank decreased their price target on shares of Capital Power from C$47.00 to C$45.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 17th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Capital Power presently has an average rating of “Hold” and a consensus target price of C$45.73.

Insider Transactions at Capital Power

In other Capital Power news, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$39.22, for a total transaction of C$204,296.98. Company insiders own 0.17% of the company’s stock.

Capital Power Stock Performance

The firm has a 50 day moving average of C$37.36 and a 200-day moving average of C$37.30. The company has a market cap of C$4.49 billion, a P/E ratio of 5.88, a PEG ratio of 0.91 and a beta of 0.57. The company has a quick ratio of 0.55, a current ratio of 1.29 and a debt-to-equity ratio of 153.08.

Capital Power (TSE:CPX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported C$0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.02. The business had revenue of C$984.00 million for the quarter. Capital Power had a return on equity of 26.11% and a net margin of 18.29%. As a group, sell-side analysts anticipate that Capital Power Co. will post 3.1532468 EPS for the current fiscal year.

Capital Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date of this dividend was Wednesday, March 27th. Capital Power’s dividend payout ratio (DPR) is 40.73%.

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.