Canadian Utilities (TSE:CU) Reaches New 12-Month High – Still a Buy?

Shares of Canadian Utilities Limited (TSE:CU) reached a new 52-week high during trading on Thursday . The stock traded as high as C$53.86 and last traded at C$53.65, with a volume of 20138 shares traded. The stock had previously closed at C$53.59.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CU. 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 research note on Monday, June 1st. Canadian Imperial Bank of Commerce increased their price objective on shares of Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. TD raised their price objective on 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. Finally, Royal Bank Of Canada boosted their target price on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Utilities currently has a consensus rating of “Hold” and an average price target of C$47.71.

Canadian Utilities Stock Up 0.3%

The business’s 50-day simple moving average is C$50.98 and its 200 day simple moving average is C$48.07. The firm has a market cap of C$14.64 billion, a PE ratio of 537.50, a P/E/G ratio of 2.38 and a beta of 0.53. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 186.03.

Canadian Utilities (TSE:CU) last posted its earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share for the quarter. The company had revenue of C$1.08 billion during the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%. As a group, equities research 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.