Canadian Utilities (TSE:CU) Sets New 52-Week High – Still a Buy?

Canadian Utilities Limited (TSE:CU) hit a new 52-week high on Wednesday . The company traded as high as C$43.76 and last traded at C$43.28, with a volume of 623224 shares. The stock had previously closed at C$43.11.

Analyst Upgrades and Downgrades

CU has been the subject of several recent analyst reports. Scotiabank boosted their price objective on Canadian Utilities from C$40.00 to C$43.00 in a report on Tuesday, December 16th. National Bankshares lifted their target price on shares of Canadian Utilities from C$40.00 to C$43.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. CIBC boosted their price target on shares of Canadian Utilities from C$43.00 to C$44.00 in a research note on Wednesday, December 17th. TD Securities increased their price target on shares of Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, BMO Capital Markets lifted their price objective on shares of Canadian Utilities from C$42.00 to C$44.00 in a report on Monday, November 10th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$42.67.

Canadian Utilities Stock Up 0.4%

The company has a market cap of C$11.77 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.38 and a beta of 0.55. The stock has a 50-day moving average of C$42.08 and a two-hundred day moving average of C$39.77. The company has a debt-to-equity ratio of 158.34, a quick ratio of 1.30 and a current ratio of 1.63.

Canadian Utilities (TSE:CU) last posted its quarterly earnings results on Friday, November 7th. The company reported C$0.40 EPS for the quarter. Canadian Utilities had a net margin of 13.41% and a return on equity of 7.21%. The firm had revenue of C$792.00 million for the quarter. On average, research analysts anticipate that Canadian Utilities Limited will post 2.4063556 EPS for the current fiscal year.

About Canadian Utilities

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company’s main divisions include electricity (generation, transmission, and distribution), pipelines & liquid (natural gas and water), and Retail Energy. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States and Mexico. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.