Canadian Utilities Stock Rating Lowered by Canaccord Genuity (CU)
Canadian Utilities (TSE:CU) was downgraded by investment analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Stock Ratings Network.com reports. They currently have a C$42.00 target price on the stock, up from their previous target price of C$40.00. Canaccord Genuity’s price objective indicates a potential upside of 6.06% from the stock’s previous close.
Canadian Utilities (TSE:CU) opened at 39.01 on Friday. Canadian Utilities has a 52 week low of $33.47 and a 52 week high of $41.68. The stock’s 50-day moving average is $37.29 and its 200-day moving average is $36.2. The company has a market cap of $10.144 billion and a price-to-earnings ratio of 17.52.
The company also recently announced a Quarterly dividend, which is scheduled for Saturday, March 1st. Investors of record on Saturday, March 1st will be given a dividend of $0.2675 per share. This represents a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, February 4th.
Separately, analysts at Barclays raised their price target on shares of Canadian Utilities from C$39.00 to C$41.00 in a research note on Friday. They now have an “equal weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$42.14.
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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