Canadian Utilities (TSE:CU) Price Target Raised to C$63.00

Canadian Utilities (TSE:CU) had its target price boosted by Royal Bank Of Canada from C$58.00 to C$63.00 in a research report released on Thursday morning,BayStreet reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other analysts have also recently issued reports on CU. Scotiabank lifted their target price on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. TD increased their price target on shares of Canadian Utilities from C$52.00 to C$57.00 and gave the stock a “buy” rating in a research note on Wednesday. National Bank Financial lifted their price objective on shares of 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. BMO Capital Markets upped their price objective on shares of Canadian Utilities from C$50.00 to C$55.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of Canadian Utilities from C$55.00 to C$52.00 in a research report on Tuesday, September 22nd. One 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$54.71.

Canadian Utilities Stock Performance

Shares of CU stock opened at C$49.23 on Thursday. Canadian Utilities has a fifty-two week low of C$38.51 and a fifty-two week high of C$56.90. The stock’s 50-day moving average is C$51.61 and its two-hundred day moving average is C$51.07. The company has a debt-to-equity ratio of 184.88, a current ratio of 1.80 and a quick ratio of 1.30. The firm has a market cap of C$13.41 billion, a P/E ratio of 307.69, a PEG ratio of 2.38 and a beta of 0.36.

Canadian Utilities (TSE:CU) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share (EPS) for the quarter. The business had revenue of C$914.00 million during the quarter. Canadian Utilities had a return on equity of 1.88% and a net margin of 3.30%. Analysts predict 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.