Canadian Utilities (TSE:CU) Reaches New 52-Week High – Should You Buy?

Canadian Utilities Limited (TSE:CU)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$46.52 and last traded at C$46.38, with a volume of 713806 shares traded. The stock had previously closed at C$45.91.

Analyst Ratings Changes

Several analysts recently weighed in on CU shares. TD Securities lifted their price target on Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. National Bank Financial lifted their target price on Canadian Utilities from C$40.00 to C$43.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. BMO Capital Markets boosted their target price on shares of Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. Scotiabank raised their price target on shares of Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Canadian Utilities from C$44.00 to C$45.00 in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$42.83.

Canadian Utilities Stock Up 1.0%

The stock has a 50-day moving average of C$43.31 and a 200 day moving average of C$40.82. The company has a debt-to-equity ratio of 158.34, a current ratio of 1.63 and a quick ratio of 1.30. The company has a market cap of C$12.61 billion, a P/E ratio of 23.66, a PEG ratio of 2.38 and a beta of 0.61.

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.