Canadian Utilities (TSE:CU) Price Target Cut to C$33.00

Canadian Utilities (TSE:CU) had its price target lowered by Scotiabank from C$35.00 to C$33.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Separately, CIBC decreased their price target on Canadian Utilities from C$35.00 to C$34.00 and set a neutral rating on the stock in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of C$35.29.

Canadian Utilities Price Performance

Shares of CU stock opened at C$30.44 on Monday. The stock’s fifty day moving average is C$30.53 and its 200-day moving average is C$30.74. The company has a debt-to-equity ratio of 147.99, a quick ratio of 1.30 and a current ratio of 1.01. The stock has a market capitalization of C$6.22 billion, a PE ratio of 13.06, a PEG ratio of 2.38 and a beta of 0.60. Canadian Utilities has a 52 week low of C$28.13 and a 52 week high of C$39.87.

Canadian Utilities (TSE:CU) last announced its earnings results on Thursday, February 29th. The company reported C$0.71 EPS for the quarter, topping the consensus estimate of C$0.69 by C$0.02. The company had revenue of C$974.00 million for the quarter. Canadian Utilities had a return on equity of 10.08% and a net margin of 18.63%. Equities research analysts expect that Canadian Utilities will post 2.3547141 EPS for the current fiscal year.

Canadian Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Thursday, May 2nd will be paid a $0.453 dividend. This represents a $1.81 annualized dividend and a yield of 5.95%. 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 firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total transaction of C$1,544,530.92. Insiders own 38.21% of the company’s stock.

About Canadian Utilities

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.