| Over a week ago | ||||
National Bank analyst… National Bank analyst Patrick Kenny raised the firm's price target on Capital Power to C$53 from C$52 and keeps an Outperform rating on the shares. | ||||
Scotiabank analyst Robert… Scotiabank analyst Robert Hope raised the firm's price target on Capital Power to C$52 from C$51 and keeps a Sector Perform rating on the shares. | ||||
Credit Suisse analyst… Credit Suisse analyst Andrew Kuske raised the firm's price target on Capital Power to C$56 from C$54 and keeps an Outperform rating on the shares. | ||||
National Bank analyst… National Bank analyst Patrick Kenny raised the firm's price target on Capital Power to C$52 from C$51 and keeps an Outperform rating on the shares. | ||||
CIBC analyst Mark Jarvi… CIBC analyst Mark Jarvi raised the firm's price target on Capital Power to C$51 from C$50 and keeps a Neutral rating on the shares. | ||||
The company said,… The company said, "On April 13, 2023, the Company announced internally that Kate Chisholm, our Senior Vice President and Chief Strategy and Sustainability Officer has advised of her intention to retire effective July 4, 2023. Kate has been an integral part of the Executive Team with outstanding service and valuable contributions since the inception of Capital Power. Announcement for Kate's replacement will occur in due course." | ||||
On April 19, 2023, the… On April 19, 2023, the Company's Board of Directors announced that it unanimously selected Avik Dey to be its next President and Chief Executive Officer and become a member of the Board of Directors, effective May 8, 2023. The appointment follows the planned retirement of Brian Vaasjo who will support Mr. Dey in an advisory role for six months to ensure a seamless transition. | ||||
Reports Q1 revenue… Reports Q1 revenue C$1.27B vs. C$501M last year. "Financial results were strong for the first quarter despite unseasonably warm temperatures," said Brian Vaasjo, President and CEO of Capital Power. "This included warm temperatures in Alberta for most of the quarter that resulted in an average power price of $142 per megawatt hour which was well below our expectations of $208 per megawatt hour. Our financial forecast and outlook for Alberta power prices and fleetwide performance continues to be positive for the remainder of the year. We expect financial results to be trending to the upper end of the adjusted EBITDA and AFFO guidance ranges of $1,455 million to $1,515 million and $805 million to $865 million, respectively. The Ontario IESO capacity procurement confirms our natural gas strategy and is a good investment opportunity for Capital Power," stated Mr. Vaasjo. "We were awarded a 6-year IESO contract extension associated with our 40 megawatt efficiency upgrade bid for Goreway, which applies to the new combined contracted capacity of 880 megawatts and extends the current contract from 2029 to 2035. We continue discussions with the IESO on a similar contract award for York Energy Centre and look forward to the results on our competitive bids relating to a gas turbine expansion at East Windsor and battery projects at Goreway and York Energy. On behalf of all of Capital Power, I would like to welcome Avik Dey to the Company. Avik will be a tremendous catalyst for the team and as he noted in the April 19th press release, he is looking forward to accelerating the company's existing strategic plan. I would also like to congratulate Kate Chisholm, Senior Vice President and Chief Strategy and Sustainability Officer on her retirement. Kate has been an integral part of the executive team with outstanding service and valuable contributions since the inception of Capital Power. We wish Kate the very best in retirement," added Mr. Vaasjo. | ||||
| Over a month ago | ||||
Capital Power… Capital Power Corporation's Board of Directors has unanimously selected Avik Dey to be its next President and CEO and become a member of the Board of Directors, effective May 8, 2023. The appointment follows the planned retirement of Brian Vaasjo who will support Mr. Dey to ensure a seamless transition. Most recently Mr. Dey held key executive leadership roles with The Carlyle Group, NOVA Chemicals, and Canada Pension Plan Investment Board. | ||||
Meeting to be held in… Meeting to be held in Canada on March 30 hosted by Desjardins. | ||||
