Royal Bank of Canada Cuts Capital Power (TSE:CPX) Price Target to C$39.00

Capital Power (TSE:CPX) had its target price reduced by Royal Bank of Canada from C$41.00 to C$39.00 in a research report report published on Thursday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research firms have also commented on CPX. Scotiabank dropped their target price on Capital Power from C$47.00 to C$45.00 and set a sector perform rating on the stock in a report on Wednesday, January 17th. Raymond James cut their target price on shares of Capital Power from C$46.00 to C$45.00 and set a market perform rating for the company in a report on Thursday, April 25th. National Bankshares lowered their price target on shares of Capital Power from C$48.00 to C$45.00 in a report on Wednesday, January 17th. ATB Capital cut their price objective on shares of Capital Power from C$42.00 to C$41.00 and set a sector perform rating for the company in a report on Wednesday, January 17th. Finally, TD Securities decreased their price objective on shares of Capital Power from C$49.00 to C$47.00 in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of C$44.45.

Capital Power Price Performance

Shares of TSE:CPX opened at C$36.05 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.55 and a debt-to-equity ratio of 153.08. Capital Power has a twelve month low of C$33.90 and a twelve month high of C$46.73. The company’s 50 day moving average is C$37.30 and its 200 day moving average is C$37.27. The company has a market cap of C$4.66 billion, a PE ratio of 5.97, a price-to-earnings-growth ratio of 0.91 and a beta of 0.57.

Capital Power (TSE:CPX) last posted its earnings results on Wednesday, February 28th. The company reported C$0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.02. The company had revenue of C$984.00 million during the quarter. Capital Power had a net margin of 18.29% and a return on equity of 26.11%. On average, sell-side analysts forecast that Capital Power will post 3.2094897 EPS for the current year.

Capital Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.615 dividend. This represents a $2.46 annualized dividend and a yield of 6.82%. The ex-dividend date is Friday, June 28th. Capital Power’s payout ratio is 40.73%.

Insider Buying and Selling

In related news, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$39.22, for a total transaction of C$204,296.98. 0.17% of the stock is owned by company insiders.

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.