Capital Power (CPX.TO) Buy, Sell or Hold

Capital Power (CPX.TO)

61.38

-0.32 (0.52%)

as of Sep 18, 2026, 8:00:02 pm Market Open.

441 watching

TOP PICK

4.6% bonds maturing 2015. This is a company that is relatively new to the bond market. Have grown a lot more than what the market was expecting. Current spreads of 250 basis points for a 3-year paper is a lot wider than its peer group. Expect these bonds to perform well over the next 3 years.

BUY

Dropped significantly. Represents pretty good value. Alberta power prices will drive the stock higher. Capacity additions to 2014 should be able to be absorbed and CPX should grow. Below 70% payout ratio. You need to see stock grow so they can go out and make acquisitions from cash flow.

DON'T BUY

Model price is $18.91, which is a 25% overvaluation. This is a yield play at almost 5%. They are paying out, certainly all that they make in earnings. If there was a spike up in rates, these and other names would certainly be vulnerable.

COMMENT

Recently issued 8 million shares. From time to time, green power companies in order to grow they have to make acquisitions. Believes this is really accretive and not dilutive. Prefers Northland Power (NPI-T), which gives both growth and yield.

BUY

Has taken a small position and likes what he is seeing. Some issues around power rates.

Showing 151 to 155 of 155 entries

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Capital Power (CPX.TO)