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

Canadian Utilities Limited (TSE:CU) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$55.44 and last traded at C$55.40, with a volume of 42684 shares traded. The stock had previously closed at C$54.87.

Analyst Ratings Changes

A number of research analysts recently commented on the company. National Bank Financial boosted their price target on Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Scotiabank increased their price objective on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Royal Bank Of Canada raised their target price on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. Finally, TD upped their price target on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$49.14.

Canadian Utilities Stock Performance

The stock has a fifty day simple moving average of C$51.60 and a two-hundred day simple moving average of C$48.49. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. The stock has a market cap of C$15.13 billion, a price-to-earnings ratio of 555.50, a P/E/G ratio of 2.38 and a beta of 0.53.

Canadian Utilities (TSE:CU) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%.The company had revenue of C$1.08 billion during the quarter. Analysts expect that Canadian Utilities Limited will post 2.4063556 EPS for the current fiscal year.

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.