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

Canadian Utilities Limited (TSE:CU)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$48.75 and last traded at C$47.98, with a volume of 59307 shares changing hands. The stock had previously closed at C$48.26.

Analysts Set New Price Targets

Several brokerages recently weighed in on CU. Royal Bank Of Canada boosted their price objective on shares of Canadian Utilities from C$43.00 to C$49.00 and gave the stock a “sector perform” rating in a research note on Friday, February 27th. National Bank Financial upped their price target on Canadian Utilities from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce increased their price target on Canadian Utilities from C$45.00 to C$47.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. TD Securities lifted their price objective on Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, BMO Capital Markets upped their target price on 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, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$45.83.

Canadian Utilities Price Performance

The company has a debt-to-equity ratio of 194.86, a quick ratio of 1.30 and a current ratio of 1.56. The business has a 50 day moving average price of C$44.65 and a 200-day moving average price of C$41.55. The company has a market capitalization of C$13.10 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 2.38 and a beta of 0.66.

Canadian Utilities Company Profile

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.