Royal Bank of Canada Cuts Capital Power (TSE:CPX) Price Target to C$39.00

Capital Power (TSE:CPX) had its target price cut by Royal Bank of Canada from C$41.00 to C$39.00 in a research note released on Thursday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other brokerages have also issued reports on CPX. Desjardins cut their target price on Capital Power from C$51.00 to C$49.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. ATB Capital cut their price objective on Capital Power from C$42.00 to C$41.00 and set a sector perform rating on the stock in a report on Wednesday, January 17th. Scotiabank decreased their target price on shares of Capital Power from C$47.00 to C$45.00 and set a sector perform rating for the company in a report on Wednesday, January 17th. CIBC cut their price target on shares of Capital Power from C$43.00 to C$40.00 and set a neutral rating on the stock in a report on Friday, April 19th. Finally, Raymond James decreased their price objective on shares of Capital Power from C$46.00 to C$45.00 and set a market perform rating for the company in a research note on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Capital Power presently has a consensus rating of Hold and an average target price of C$44.45.

Capital Power Stock Performance

Shares of CPX opened at C$36.05 on Thursday. The company has a debt-to-equity ratio of 153.08, a current ratio of 1.29 and a quick ratio of 0.55. The firm’s 50 day moving average is C$37.30 and its 200-day moving average is C$37.27. Capital Power has a 12-month low of C$33.90 and a 12-month high of C$46.73. The stock has a market capitalization of C$4.66 billion, a P/E ratio of 5.97, a P/E/G ratio of 0.91 and a beta of 0.57.

Capital Power (TSE:CPX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported C$0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.72 by C$0.02. The firm had revenue of C$984.00 million for the quarter. Capital Power had a net margin of 18.29% and a return on equity of 26.11%. Equities research analysts anticipate that Capital Power will post 3.2094897 EPS for the current fiscal year.

Capital Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.615 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.46 dividend on an annualized basis and a yield of 6.82%. Capital Power’s payout ratio is 40.73%.

Insider Activity

In related news, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$39.22, for a total transaction of C$204,296.98. 0.17% of the stock is currently owned by corporate insiders.

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 (MW) of power generation capacity at 29 facilities.