Canadian Utilities (TSE:CU) Sets New 1-Year High – What’s Next?

Canadian Utilities Limited (TSE:CU) hit a new 52-week high during trading on Thursday . The company traded as high as C$52.38 and last traded at C$52.05, with a volume of 33982 shares traded. The stock had previously closed at C$51.52.

Analyst Ratings Changes

CU has been the topic of several research analyst reports. National Bank Financial raised their price objective on Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. TD Securities lifted their target price on Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada boosted their price objective 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. Canadian Imperial Bank of Commerce boosted their price objective on Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. Finally, 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. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$47.71.

Canadian Utilities Stock Performance

The company has a market cap of C$14.05 billion, a PE ratio of 515.90, a PEG ratio of 2.38 and a beta of 0.52. 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 company has a 50-day moving average of C$49.26 and a 200-day moving average of C$46.23.

Canadian Utilities (TSE:CU) last announced its earnings results 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 company had revenue of C$1.08 billion for the quarter. As a group, analysts anticipate 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.