Capital Power (TSE:CPX) Stock Passes Below 200 Day Moving Average After Analyst Downgrade

Capital Power Co. (TSE:CPX) passed below its 200-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 200-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 changing hands.

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

Capital Power Stock Performance

The company has a market cap of C$6.86 billion, a PE ratio of 11.55, a P/E/G ratio of 0.91 and a beta of 0.64. The stock’s 50-day simple moving average is C$48.34 and its 200 day simple moving average is C$54.49. The company has a debt-to-equity ratio of 136.03, a quick ratio of 0.55 and a current ratio of 1.05.

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.