Capital Power (TSE:CPX) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Capital Power Co. (TSE:CPX) shares crossed above their 200-day moving average of C$53.16, reaching a high of C$63.99, before last trading at C$58.00.
• Investment analysts have varied outlooks for Capital Power, with BMO Capital Markets upgrading the stock to "outperform" while Jefferies Financial Group downgraded it to "hold". The consensus target price now stands at C$64.11.
• Insider trading activity was noted, with two senior officers selling a combined total of 2,962 shares for approximately C$157,490 recently.

Shares of Capital Power Co. (TSE:CPX - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$53.16 and traded as high as C$63.99. Capital Power shares last traded at C$58.00, with a volume of 2,651,857 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on CPX. Royal Bank Of Canada raised Capital Power from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from C$65.00 to C$67.00 in a research report on Thursday. Jefferies Financial Group downgraded Capital Power from a "buy" rating to a "hold" rating and upped their price target for the stock from C$59.00 to C$60.00 in a report on Thursday, June 12th. Desjardins upped their price target on Capital Power from C$67.00 to C$68.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. BMO Capital Markets upgraded Capital Power from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 23rd. Finally, CIBC lifted their price objective on shares of Capital Power from C$66.00 to C$72.00 in a research report on Thursday, July 10th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Capital Power presently has a consensus rating of "Moderate Buy" and an average price target of C$65.78.

Capital Power Stock Down 2.7%

The firm's 50 day moving average price is C$57.05 and its two-hundred day moving average price is C$53.17. The firm has a market capitalization of C$7.98 billion, a PE ratio of 13.43, a P/E/G ratio of 0.91 and a beta of 0.64. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 136.03.

Insider Activity at Capital Power

In related news, Senior Officer Sandra Anne Haskins sold 5,710 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of C$53.00, for a total transaction of C$302,631.14. Also, Senior Officer Jacquelyn Marie Pylypiuk sold 962 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of C$53.63, for a total transaction of C$51,590.14. In the last three months, insiders sold 8,672 shares of company stock valued at $460,121. Corporate insiders own 0.17% of the company's stock.

Capital Power Company Profile

Capital Power Corp is a North American power producer whose principal activities are developing, acquiring, and operating power plants. Through its subsidiary, Capital Power owns and operates a portfolio of natural gas, coal, wind, solar, and solid fuel energy generating facilities. These are located throughout Western and Central Canada and the U.S.