Canadian Utilities (TSE:CU) Sets New 12-Month High – Here’s What Happened

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$51.29 and last traded at C$51.20, with a volume of 95506 shares changing hands. The stock had previously closed at C$50.57.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. TD lifted their price objective on shares of 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. Canadian Imperial Bank of Commerce increased their target price on Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. National Bank Financial increased their target price on Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Finally, TD Securities increased their target price on Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Canadian Utilities has an average rating of “Hold” and an average price target of C$47.71.

Canadian Utilities Stock Up 0.9%

The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 186.03. The stock has a market capitalization of C$13.89 billion, a P/E ratio of 510.20, a P/E/G ratio of 2.38 and a beta of 0.52. The business has a 50-day moving average price of C$49.11 and a 200 day moving average price of C$46.01.

Canadian Utilities (TSE:CU) last posted its earnings results on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. The firm 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%. On average, equities analysts expect that Canadian Utilities Limited will post 2.4063556 EPS for the current fiscal year.

About Canadian Utilities

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.