Power Co. of Canada (TSE:POW) Shares Pass 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 traded.

Analyst Ratings Changes

A number of analysts have recently weighed in on POW shares. Desjardins raised their price objective on Power Co. of Canada from C$55.00 to C$60.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. CIBC cut Power Co. of Canada from an "outperform" rating to a "neutral" rating and set a C$55.00 price objective for the company. in a research report on Thursday, May 22nd. Royal Bank Of Canada cut Power Co. of Canada from a "moderate buy" rating to a "hold" rating and raised their price objective for the stock from C$57.00 to C$58.00 in a research report on Monday, August 11th. Jefferies Financial Group cut Power Co. of Canada from a "buy" rating to a "hold" rating and raised their price objective for the stock from C$57.00 to C$60.00 in a research report on Monday, August 11th. Finally, BMO Capital Markets raised their price objective on Power Co. of Canada from C$54.00 to C$58.00 in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$59.25.

Power Co. of Canada Trading Up 1.1%

The stock has a 50-day simple moving average of C$56.20 and a 200 day simple moving average of C$52.65. The company has a market cap of C$38.03 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.57 and a beta of 0.96.

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).

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