Capital Power (TSE:CPX) Rating Increased to Outperform at Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has upgraded Capital Power's stock from a “sector perform” rating to an “outperform” rating, with a new price target of C$67.00.
• Several other analysts have increased their price targets, with CIBC setting the highest target at C$72.00, reflecting a consensus average target price of C$65.78.
• Despite this positive outlook, Capital Power's stock recently traded down 0.5%, indicating a current price of C$57.72.

Royal Bank Of Canada upgraded shares of Capital Power (TSE:CPX - Free Report) from a sector perform rating to an outperform rating in a research note released on Thursday, Marketbeat.com reports. The firm currently has C$67.00 price objective on the stock, up from their previous price objective of C$65.00.

Several other research analysts have also recently weighed in on the company. TD Securities increased their price objective on Capital Power from C$66.00 to C$69.00 and gave the stock a "buy" rating in a research report on Tuesday. Scotiabank increased their target price on Capital Power from C$64.00 to C$67.00 in a report on Friday, July 18th. National Bankshares increased their target price on Capital Power from C$62.00 to C$63.00 and gave the stock an "outperform" rating in a report on Thursday. Jefferies Financial Group lowered Capital Power from a "buy" rating to a "hold" rating and increased their target price for the stock from C$59.00 to C$60.00 in a report on Thursday, June 12th. Finally, Desjardins increased their target price 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Capital Power has a consensus rating of "Moderate Buy" and a consensus target price of C$65.78.

Capital Power Stock Performance

CPX stock traded down C$1.57 during trading hours on Thursday, hitting C$56.51. 767,201 shares of the stock were exchanged, compared to its average volume of 858,978. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 136.03. The firm has a market capitalization of C$7.98 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.91 and a beta of 0.64. The company has a 50-day simple moving average of C$57.05 and a two-hundred day simple moving average of C$53.17. Capital Power has a 12 month low of C$41.87 and a 12 month high of C$68.73.

Insider Activity at Capital Power

In other news, Senior Officer Jason Daniel Comandante sold 2,000 shares of Capital Power stock in a transaction dated Monday, May 12th. The stock was sold at an average price of C$52.95, for a total transaction of C$105,900.00. Also, Senior Officer Sandra Anne Haskins sold 5,710 shares of Capital Power stock in a transaction dated Friday, May 9th. The shares were sold at an average price of C$53.00, for a total value of C$302,631.14. Insiders have sold 8,672 shares of company stock valued at $460,121 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

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.