Canadian Utilities (TSE:CU) Hits New 1-Year High – Time to Buy?

Canadian Utilities Limited (TSE:CU)’s stock price reached a new 52-week high on Friday . The stock traded as high as C$51.29 and last traded at C$51.20, with a volume of 95506 shares trading hands. The stock had previously closed at C$50.57.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce raised their target price on shares of Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. Royal Bank Of Canada raised 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 report on Thursday, May 7th. TD Securities raised their target price on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. National Bank Financial raised their target price on shares of Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a report on Monday. Finally, 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 research report on Friday, May 8th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Canadian Utilities currently has an average rating of “Hold” and a consensus target price of C$47.71.

Canadian Utilities Trading Up 1.2%

The business’s 50-day moving average price is C$49.06 and its two-hundred day moving average price is C$45.98. The company has a debt-to-equity ratio of 186.03, a current ratio of 1.32 and a quick ratio of 1.30. The firm has a market cap of C$13.93 billion, a price-to-earnings ratio of 511.70, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU) last released its earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share (EPS) for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. The firm had revenue of C$1.08 billion during the quarter. Equities analysts expect that Canadian Utilities Limited will post 2.4063556 earnings per share for the current year.

Canadian Utilities Company Profile

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.