Canadian Utilities PT Raised to C$44.00 (CU)
Equities researchers at RBC Capital upped their price target on shares of Canadian Utilities (TSE:CU) from C$40.00 to C$44.00 in a research report issued on Thursday, American Banking and Market News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price indicates a potential upside of 14.58% from the stock’s previous close.
Canadian Utilities (TSE:CU) traded up 0.23% on Thursday, hitting $38.40. 268,851 shares of the company’s stock traded hands. Canadian Utilities has a 1-year low of $31.555 and a 1-year high of $41.68. The stock’s 50-day moving average is $36.26 and its 200-day moving average is $36.99. The company has a market cap of $9.947 billion and a P/E ratio of 16.95.
Several other analysts have also recently commented on the stock. Analysts at TD Securities raised their price target on shares of Canadian Utilities from C$42.00 to C$43.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Scotiabank raised their price target on shares of Canadian Utilities from C$42.00 to C$44.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at CIBC initiated coverage on shares of Canadian Utilities in a research note to investors on Wednesday. They set an “outperform” rating and a C$41.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of C$42.17.
Canadian Utilities Limited is a holding company. The Company operates in four segments: Utilities includes the regulated distribution of natural gas by ATCO Gas, , and the regulated distribution and transmission of electricity by ATCO Electric and its subsidiaries, Northland Utilities, Northland Utilities and Yukon Electrical; Energy includes the non-regulated supply of electricity and cogeneration steam by ATCO Power, and the non-regulated natural gas gathering, processing, storage, and natural gas liquids extraction by ATCO Midstream; ATCO Australia includes the non-regulated supply of electricity and cogeneration steam by ATCO Power Australia, and as of July 29, 2011, the regulated distribution of natural gas by ATCO Gas Australia and the development, operation and support of information systems and technologies by ATCO I-Tek Australia, and Corporate and Other includes its investment in ATCO Structures & Logistics.
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