CIBC Increases Capital Power (TSE:CPX) Price Target to C$45.00

Capital Power (TSE:CPX) had its price objective hoisted by CIBC from C$42.00 to C$45.00 in a research report released on Thursday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on the stock. TD Securities increased their target price on shares of Capital Power from C$47.00 to C$48.00 and gave the company a buy rating in a research report on Thursday. Scotiabank increased their target price on shares of Capital Power from C$43.00 to C$46.00 and gave the company an outperform rating in a research report on Thursday. BMO Capital Markets increased their target price on shares of Capital Power from C$38.00 to C$42.00 in a research report on Thursday. Royal Bank of Canada increased their target price on shares of Capital Power from C$39.00 to C$44.00 and gave the company a sector perform rating in a research report on Thursday. Finally, National Bankshares increased their target price on shares of Capital Power from C$43.00 to C$44.00 in a research report on Thursday. Five 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, Capital Power presently has an average rating of Hold and an average price target of C$46.50.

Capital Power Stock Down 1.2 %

CPX stock opened at C$42.86 on Thursday. The firm’s 50-day simple moving average is C$40.37 and its 200 day simple moving average is C$38.31. The stock has a market cap of C$5.53 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 0.91 and a beta of 0.58. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 125.95. Capital Power has a fifty-two week low of C$33.90 and a fifty-two week high of C$43.58.

Capital Power Increases Dividend

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

Insiders Place Their Bets

In other news, Senior Officer Bryan Deneve bought 5,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was bought 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.

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.