Capital Power (TSE:CPX) Share Price Crosses Below Two Hundred Day Moving Average After Analyst Downgrade

Capital Power Co. (TSE:CPX)’s share price passed below its two hundred day moving average during trading on Wednesday after TD Securities lowered their price target on the stock from C$70.00 to C$66.00. The stock has a two hundred day moving average of C$54.49 and traded as low as C$48.35. TD Securities currently has a buy rating on the stock. Capital Power shares last traded at C$48.59, with a volume of 1,219,142 shares trading hands.

Several other research analysts have also commented on CPX. Desjardins raised their price objective on shares of Capital Power from C$66.00 to C$69.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Cibc World Mkts raised shares of Capital Power from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. CIBC raised Capital Power from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from C$68.00 to C$64.00 in a research report on Tuesday, February 18th. BMO Capital Markets decreased their target price on Capital Power from C$68.00 to C$64.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Finally, ATB Capital lowered their target price on Capital Power from C$63.00 to C$62.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$61.89.

Capital Power Price Performance

The stock has a market capitalization of C$7.09 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.91 and a beta of 0.64. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 136.03. The stock has a fifty day moving average of C$48.30 and a 200-day moving average of C$54.46.

Capital Power Company Profile

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.