Canadian Utilities (TSE:CU) Given New C$53.00 Price Target at Scotiabank

Canadian Utilities (TSE:CU) had its target price boosted by investment analysts at Scotiabank from C$50.00 to C$53.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential downside of 2.56% from the company’s current price.

Several other research analysts have also issued reports on the company. TD increased their price target on Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, May 8th. National Bank Financial lifted their price objective on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce upped their price target on Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. Finally, 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 research note on Thursday, May 7th. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$49.14.

Canadian Utilities Stock Performance

Canadian Utilities stock traded up C$0.14 during trading hours on Tuesday, hitting C$54.39. The company had a trading volume of 126,314 shares, compared to its average volume of 573,680. The firm has a 50-day moving average of C$51.35 and a 200 day moving average of C$48.33. The firm has a market cap of C$14.81 billion, a PE ratio of 543.90, a PEG ratio of 2.38 and a beta of 0.53. Canadian Utilities has a one year low of C$37.13 and a one year high of C$55.30. The company has a debt-to-equity ratio of 186.03, a current ratio of 1.32 and a quick ratio of 1.30.

Canadian Utilities (TSE:CU) last issued its earnings results on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. The company 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%. On average, sell-side analysts expect that Canadian Utilities 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.