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

Key Points

• Power Co. of Canada's shares recently exceeded their 200-day moving average of C$52.65, trading as high as C$59.37.
• Analysts have mixed opinions on the stock, with three giving it a Buy rating and six issuing a Hold rating, leading to a consensus price target of C$59.25.
• The company has a current market capitalization of C$38.03 billion and a price-to-earnings ratio of 14.25.

Power Co. of Canada (TSE:POW - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$52.65 and traded as high as C$59.37. Power Co. of Canada shares last traded at C$59.30, with a volume of 1,777,643 shares trading hands.

Wall Street Analysts Forecast Growth

POW has been the topic of a number of research analyst reports. CIBC lowered Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 price target on the stock. in a research note on Thursday, May 22nd. National Bankshares upped their target price on shares of Power Co. of Canada from C$55.00 to C$56.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 29th. BMO Capital Markets raised their price target on shares of Power Co. of Canada from C$54.00 to C$58.00 in a research note on Thursday, August 7th. TD Securities upped their price objective on shares of 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. Finally, Scotiabank increased their price objective on shares of Power Co. of Canada from C$59.00 to C$65.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Power Co. of Canada presently has an average rating of "Hold" and a consensus target price of C$59.25.

Power Co. of Canada Trading Up 0.1%

The stock has a market cap of C$36.82 billion, a PE ratio of 13.80, a P/E/G ratio of 0.57 and a beta of 0.96. The business has a 50 day moving average of C$56.54 and a 200-day moving average of C$52.89.

Power Co. of Canada Company Profile

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).