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

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CU. National Bank Financial increased their price target on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. TD boosted their price objective on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the company a “hold” rating in a report on Friday, May 8th. Royal Bank Of Canada upped their target price on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their target price on shares of Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. Finally, TD Securities lifted their price target on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$47.71.

Canadian Utilities Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 186.03. The firm has a 50-day moving average price of C$49.76 and a 200 day moving average price of C$46.99. The firm has a market capitalization of C$14.44 billion, a PE ratio of 530.40, a price-to-earnings-growth ratio of 2.38 and a beta of 0.52.

Canadian Utilities (TSE:CU) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$0.89 earnings per share (EPS) for the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%.The firm had revenue of C$1.08 billion for the quarter. Research analysts expect 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.