Power Co. of Canada (TSE:POW) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Power Co. of Canada (TSE:POW) recently exceeded its 200-day moving average of C$51.80, trading as high as C$58.23, with the last price recorded at C$57.96.
• Analysts have mixed ratings; while Jefferies Financial downgraded it to "hold," TD Securities and Desjardins raised their price targets and maintained "buy" ratings, reflecting a consensus average target price of C$59.25.
• The company has a market cap of C$37.05 billion and a price-to-earnings ratio of 16.37, indicating a stable financial position amidst recent stock fluctuations.

Power Co. of Canada (TSE:POW - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$51.80 and traded as high as C$58.23. Power Co. of Canada shares last traded at C$57.96, with a volume of 1,863,183 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on POW. Jefferies Financial Group lowered Power Co. of Canada from a "buy" rating to a "hold" rating and lifted their target price for the company from C$57.00 to C$60.00 in a research note on Monday, August 11th. Desjardins lifted their target price on Power Co. of Canada from C$55.00 to C$60.00 and gave the company a "buy" rating in a research note on Monday, August 11th. BMO Capital Markets lifted their target price on Power Co. of Canada from C$54.00 to C$58.00 in a research note on Thursday, August 7th. Royal Bank Of Canada lowered Power Co. of Canada from a "moderate buy" rating to a "hold" rating and lifted their target price for the company from C$57.00 to C$58.00 in a research note on Monday, August 11th. Finally, TD Securities lifted their target price on Power Co. of Canada from C$56.00 to C$62.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$59.25.

Power Co. of Canada Stock Down 0.1%

The firm has a market cap of C$37.28 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 0.57 and a beta of 0.98. The stock has a 50 day moving average price of C$55.32 and a two-hundred day moving average price of C$52.03.

About Power Co. of Canada

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada's largest nonbank asset manager), and Pargesa (a holding company with interests in European companies).