Canadian Utilities (TSE:CU) Sets New 12-Month High – Here’s Why

Canadian Utilities Limited (TSE:CU)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$52.39 and last traded at C$52.39, with a volume of 35595 shares changing hands. The stock had previously closed at C$52.30.

Analysts Set New Price Targets

Several research analysts have commented on CU shares. Royal Bank Of Canada lifted their price target on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. National Bank Financial increased their price objective on Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce raised their price objective on shares of Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. TD raised their price objective on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Finally, TD Securities boosted 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 report on Tuesday, March 3rd. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$47.71.

Canadian Utilities Trading Down 0.3%

The company has a debt-to-equity ratio of 186.03, a current ratio of 1.32 and a quick ratio of 1.30. The company’s 50 day moving average is C$49.62 and its two-hundred day moving average is C$46.84. The firm has a market cap of C$14.20 billion, a P/E ratio of 521.40, a PEG ratio of 2.38 and a beta of 0.52.

Canadian Utilities (TSE:CU) last released its earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share for the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%.The business had revenue of C$1.08 billion for the quarter. On average, sell-side analysts predict that Canadian Utilities Limited will post 2.4063556 earnings per share for the current 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.