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

Shares of Canadian Utilities Limited (TSE:CU) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$52.38 and last traded at C$52.05, with a volume of 33982 shares. The stock had previously closed at C$51.52.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CU. Royal Bank Of Canada increased their target price on 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. TD lifted their price target on 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. National Bank Financial boosted their price target on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce increased their price objective on Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. Finally, TD Securities raised their price objective on Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$47.71.

Canadian Utilities Price Performance

The firm has a market capitalization of C$14.09 billion, a PE ratio of 517.40, a price-to-earnings-growth ratio of 2.38 and a beta of 0.52. The stock’s 50 day simple moving average is C$49.37 and its two-hundred day simple moving average is C$46.33. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32.

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