Canadian Utilities (TSE:CU) Price Target Raised to C$57.00

Canadian Utilities (TSE:CU) had its target price lifted by TD from C$52.00 to C$57.00 in a research note released on Wednesday morning,BayStreet reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. BMO Capital Markets raised their price target on shares of Canadian Utilities from C$50.00 to C$55.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce decreased their price target on shares of Canadian Utilities from C$55.00 to C$52.00 in a report on Tuesday, September 22nd. Scotiabank increased their price objective on Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada increased their price objective on Canadian Utilities from C$50.00 to C$58.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Finally, National Bank Financial lifted their price objective on Canadian Utilities from C$51.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Canadian Utilities presently has an average rating of “Hold” and an average target price of C$54.71.

Canadian Utilities Trading Down 0.3%

Shares of Canadian Utilities stock opened at C$49.23 on Wednesday. Canadian Utilities has a 12-month low of C$38.51 and a 12-month high of C$56.90. The company has a market cap of C$13.41 billion, a price-to-earnings ratio of 307.69, a PEG ratio of 2.38 and a beta of 0.36. The company has a current ratio of 1.80, a quick ratio of 1.30 and a debt-to-equity ratio of 184.88. The company’s 50-day moving average price is C$51.61 and its 200-day moving average price is C$51.07.

Canadian Utilities (TSE:CU) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.51 EPS for the quarter. The company had revenue of C$914.00 million during the quarter. Canadian Utilities had a net margin of 3.30% and a return on equity of 1.88%. On average, equities analysts expect that Canadian Utilities will post 2.41 earnings per share for the current fiscal 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.