CIBC Trims Canadian Utilities (TSE:CU) Target Price to C$34.00

Canadian Utilities (TSE:CU) had its target price lowered by CIBC from C$35.00 to C$34.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Canadian Utilities Stock Performance

Canadian Utilities stock opened at C$30.18 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.01 and a debt-to-equity ratio of 147.99. Canadian Utilities has a twelve month low of C$28.13 and a twelve month high of C$39.87. The company’s 50-day moving average price is C$30.51 and its 200-day moving average price is C$30.74. The company has a market cap of C$6.17 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.02. Canadian Utilities had a return on equity of 10.08% and a net margin of 18.63%. The company had revenue of C$974.00 million during the quarter. On average, equities research analysts forecast that Canadian Utilities will post 2.3547141 EPS for the current fiscal year.

Canadian Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.453 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Wednesday, May 1st. Canadian Utilities’s payout ratio is 77.68%.

Insider Buying and Selling at Canadian Utilities

In other news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total value of C$1,544,530.92. Insiders own 38.21% of the company’s stock.

Canadian Utilities Company Profile

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.