Shares of Capital Power Co. (TSE:CPX – Get Free Report) were down 5.7% during trading on Tuesday . The stock traded as low as C$36.27 and last traded at C$36.74. Approximately 450,508 shares changed hands during trading, an increase of 32% from the average daily volume of 340,351 shares. The stock had previously closed at C$38.95.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Capital Power from C$48.00 to C$45.00 and set a “sector perform” rating for the company in a report on Thursday, November 2nd. National Bankshares lowered their target price on Capital Power from C$48.00 to C$47.00 in a report on Thursday, November 2nd. CSFB boosted their price target on Capital Power from C$56.00 to C$57.00 in a report on Thursday, August 17th. CIBC reduced their price objective on Capital Power from C$43.00 to C$41.00 in a research report on Thursday, November 2nd. Finally, BMO Capital Markets dropped their target price on Capital Power from C$46.00 to C$42.00 in a research report on Thursday, November 2nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$47.09.
Capital Power Price Performance
Capital Power Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.46 dividend on an annualized basis and a yield of 6.74%. Capital Power’s payout ratio is 55.91%.
About Capital Power
Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts of power generation capacity at 29 facilities.
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