Capital Power (TSE:CPX) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Capital Power Co. (TSE:CPX)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$63.47 and traded as high as C$73.22. Capital Power shares last traded at C$72.69, with a volume of 341,517 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CPX. Wells Fargo & Company set a C$70.00 price objective on shares of Capital Power and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Desjardins set a C$82.00 price objective on shares of Capital Power and gave the company a “top pick” rating in a report on Tuesday, May 26th. Finally, National Bank Financial increased their price objective on shares of Capital Power from C$75.00 to C$82.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Capital Power currently has an average rating of “Buy” and an average price target of C$78.56.

Capital Power Trading Down 0.7%

The firm has a market capitalization of C$11.37 billion, a price-to-earnings ratio of -660.82, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. The firm’s 50 day moving average is C$67.48 and its 200 day moving average is C$63.47. The company has a quick ratio of 0.55, a current ratio of 0.69 and a debt-to-equity ratio of 146.00.

Capital Power (TSE:CPX) last released its earnings results on Wednesday, April 29th. The company reported C$0.04 EPS for the quarter. Capital Power had a net margin of 0.66% and a return on equity of 0.49%. The business had revenue of C$1.18 billion during the quarter. Equities analysts forecast that Capital Power Co. will post 2.8197088 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jason Daniel Comandante sold 1,276 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$70.89, for a total transaction of C$90,455.64. Following the completion of the sale, the insider directly owned 8,711 shares of the company’s stock, valued at C$617,522.79. This represents a 12.78% decrease in their ownership of the stock. 0.17% of the stock is currently owned by corporate insiders.

Capital Power Company Profile

Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.