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

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Capital Power (CPX.TO)

66.47

+1.46 (2.25%)

as of Aug 13, 2026, 8:00:00 pm Market Open.

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Investor Insights

Aug 13, 2026, 12:00 am

This summary was created by AI, based on 16 opinions in the last 12 months.

Capital Power (CPX-T) has garnered mixed reviews from analysts regarding its growth potential and market positioning. The company aimed to capitalize on the demand for data centers in Alberta, inspired by expectations of significant deals that ultimately did not materialize. While some analysts acknowledge its strong management and attractive dividend yield, concerns persist about its valuation and reliance on electricity market fluctuations. The stock has shown stability amidst rising power demand, particularly in the U.S., but some experts suggest looking at other opportunities in regulated utilities and express disappointment in its slower-than-expected dividend growth. Overall, CPX is viewed as a reputable utility play with strong future growth prospects influenced by the AI sector, yet it faces challenges in fully capitalizing on its opportunities.

Consensus

Mixed

Valuation

Fair Value

Similar

ALA

BUY

He likes the power companies. He favours the renewable, alternative energy companies. They have the wind at their back. The green sector will be a force for at least a half a decade to come. There is going to be a greater demand for electricity and for it to be generated in non-traditional ways. He likes NPI-T, AQN-T, and BEP.UN-T.

DON'T BUY

He owns their bonds and preferreds. Their balanced sheet is a little stretched and they are majorly exposed to Alberta. They'll spend a lot of capex for many years to transition into renewable power. This is probably safe, but there are better names. He's watching this. Don't expect a dividend increase for a while. Could be a long haul.

HOLD

Good company, yield is safe. Likes strategy going forward. He owns the preferred shares instead. Safe stock. Perfect for your TFSA as a senior. Yield is 7.4%.

BUY

A power producer that was coal generator in Alberta before, but the government snuffed coal power production (and paid transitional payments). Since then, the company has morphed into nat-gas and renewables using those payments. Strong earnings, up 20% as reported last week. They raised their dividend 7% for the 7th straight year. CPS has recovered nicely since the March low. There's more in the tank to grow. It's attracting more ESG investing, which is a tailwind. Good company and growth.

DON'T BUY

There is nothing about this stock that interests him. The current valuation means they can not issue more shares as it will be dilutive. Their balance sheet has gone nowhere in 10 years as they pay too much in dividends. The shares have rarely gone above book value. Not a favorite utility in his books by a long shot.

DON'T BUY

He likes to buy stocks that are in an uptrend and a good valuation. CPX is a stable business, but at 10 times EBITDA and 22 times earnings it is too expensive. The payout ratio and yield are pretty reasonable, but it carries a fairly high level of debt. Yield 6.22%

DON'T BUY

A western focused energy distribution company. They would benefit when there is volatility in electricity pricing there. It is a great name to own long term but there are others he prefers.

WEAK BUY

Well-managed, but they had a hiccup when a few years ago when Alberta changed its environmental assessment on coal power plants. So CPX has to close two power plants and have since transformed them (well) into natural gas. Also, CPX operates in market-sensitive Alberta. In the end, CPX has done well. Doesn't trade expensively, so there's upside potential. Problem is, nobody knows power prices will react in Alberta. This is more of a utility. He is lukewarm on it. The whole sector is on sale, cheap, rife for a price upgrade.

DON'T BUY

Red flags: they're shifting away from coal energy--and this will take time--and their dependence on Alberta energy. Instead, buy AQN, which pays a regulated return, though buy on a pullback, and it's done a great job growing. AQN is his favourite in this space.

COMMENT

CPX vs. Transalta They're transitioning away from coal to natural gas, wind and solar.They've executed extremely well, but he prefers Transalta for its valuation--and Brookfield could buy Transalta. Both companies are well-run.

DON'T BUY

Power generation does not seem to attract the same multiples for investors are the same ratings from the credit issues, due to the variability in cash flows. It pays a good yield. He would not be putting capital in this space yet.

COMMENT

They consistently grow their dividend. They grow organically and by acquisition. Their recent weakness has been due to an attempted acquisition and would pay for that with a stock issue. Once this is cleared-up, then the cash flow will lead to a dividend increase. Pays a 6% yield.

COMMENT

He hasn't looked at this chart before. It was sideways for a long time, then broke out a little in fall 2018. Then, it consolidated and is now pulling back perhaps to its old breakout point of the high-$20s.

TOP PICK

A meat and potatoes business, trading at 16 times earnings, 5.7% dividend with a 7% growth in dividends yearly, and low payout ratio. Yield 5.7% (Analysts’ price target is $31.32)

COMMENT

Dividend is ok. He does not follow this name.

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Capital Power (CPX.TO)