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

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$49.71 and last traded at C$49.60, with a volume of 73096 shares. The stock had previously closed at C$48.88.

Analyst Ratings Changes

CU has been the subject of a number of analyst reports. National Bank Financial boosted their price objective on shares of 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. TD Securities lifted their target price on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Scotiabank boosted their price target on Canadian Utilities from C$40.00 to C$43.00 in a report on Tuesday, December 16th. Canadian Imperial Bank of Commerce increased their price target on Canadian Utilities from C$45.00 to C$47.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada lifted their price objective on Canadian Utilities from C$43.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Friday, February 27th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$45.83.

Canadian Utilities Price Performance

The company’s 50-day moving average is C$46.66 and its 200-day moving average is C$42.93. The firm has a market capitalization of C$13.52 billion, a price-to-earnings ratio of 331.27, a PEG ratio of 2.38 and a beta of 0.66. The company has a debt-to-equity ratio of 194.86, a current ratio of 1.56 and a quick ratio of 1.30.

Canadian Utilities (TSE:CU) last announced its quarterly earnings results on Thursday, February 26th. The company reported C$0.72 earnings per share for the quarter. Canadian Utilities had a net margin of 3.22% and a return on equity of 1.74%. The company had revenue of C$971.00 million for the quarter. On average, research analysts expect that Canadian Utilities Limited will post 2.4063556 earnings per share for the current 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.