Canadian Utilities (TSE:CU) Sets New 52-Week High at $33.91

Canadian Utilities Limited (TSE:CU) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$33.91 and last traded at C$33.82, with a volume of 41017 shares trading hands. The stock had previously closed at C$33.60.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CU shares. CIBC upped their price target on Canadian Utilities from C$34.00 to C$35.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Scotiabank upped their price target on shares of Canadian Utilities from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, National Bankshares boosted their price objective on shares of Canadian Utilities from C$34.00 to C$37.00 in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Utilities presently has a consensus rating of “Hold” and a consensus target price of C$35.83.

Canadian Utilities Stock Performance

The stock has a market capitalization of C$6.93 billion, a PE ratio of 16.97, a P/E/G ratio of 2.38 and a beta of 0.65. The company has a debt-to-equity ratio of 149.94, a quick ratio of 1.30 and a current ratio of 1.29. The firm’s 50 day moving average is C$31.40 and its two-hundred day moving average is C$30.99.

Canadian Utilities (TSE:CU) last announced its quarterly earnings data on Friday, August 2nd. The company reported C$0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.42 by C$0.01. Canadian Utilities had a return on equity of 8.72% and a net margin of 16.43%. The business had revenue of C$860.00 million during the quarter. As a group, research analysts predict that Canadian Utilities Limited will post 2.3300562 earnings per share for the current year.

Canadian Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 8th will be issued a $0.453 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.36%. Canadian Utilities’s payout ratio is 91.41%.

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.