Canadian Utilities (TSE:CU) Price Target Raised to C$53.00

Canadian Utilities (TSE:CU) had its price objective upped by Scotiabank from C$50.00 to C$53.00 in a report published on Tuesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research analysts have also commented on the company. Canadian Imperial Bank of Commerce raised their price target on Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. TD boosted their price objective on Canadian Utilities from C$47.00 to C$48.00 and gave the company a “hold” rating in a report on Friday, May 8th. National Bank Financial increased their target price on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Finally, Royal Bank Of Canada raised 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. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$49.14.

Canadian Utilities Stock Performance

TSE:CU opened at C$55.80 on Tuesday. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. The stock has a market capitalization of C$15.20 billion, a P/E ratio of 558.00, a PEG ratio of 2.38 and a beta of 0.53. The company has a 50 day moving average price of C$51.74 and a 200 day moving average price of C$48.58. Canadian Utilities has a fifty-two week low of C$37.13 and a fifty-two week high of C$55.92.

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