Canadian Utilities (TSE:CU) Reaches New 12-Month High – Here’s What Happened

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$48.31 and last traded at C$48.25, with a volume of 698745 shares traded. The stock had previously closed at C$47.01.

Analysts Set New Price Targets

Several research firms recently commented on CU. Canadian Imperial Bank of Commerce boosted their target price on Canadian Utilities from C$44.00 to C$45.00 in a research report on Wednesday, January 21st. Scotiabank boosted their price objective on Canadian Utilities from C$40.00 to C$43.00 in a report on Tuesday, December 16th. National Bank Financial upped their price objective on shares of Canadian Utilities from C$40.00 to C$43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. BMO Capital Markets lifted their target price on shares of Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. Finally, 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. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$42.83.

Canadian Utilities Trading Up 2.6%

The company has a market capitalization of C$13.12 billion, a PE ratio of 24.62, a PEG ratio of 2.38 and a beta of 0.61. The stock has a fifty day moving average of C$43.77 and a two-hundred day moving average of C$41.06. The company has a current ratio of 1.63, a quick ratio of 1.30 and a debt-to-equity ratio of 158.34.

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.