Canadian Utilities (TSE:CU) Given New C$33.00 Price Target at Scotiabank

Canadian Utilities (TSE:CU) had its price target cut by Scotiabank from C$35.00 to C$33.00 in a report released on Monday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Separately, CIBC decreased their price target on shares of Canadian Utilities from C$35.00 to C$34.00 and set a neutral rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Canadian Utilities has an average rating of Hold and a consensus target price of C$35.29.

Canadian Utilities Stock Performance

TSE CU opened at C$30.18 on Monday. The company’s 50 day simple moving average is C$30.51 and its two-hundred day simple moving average is C$30.74. The company has a debt-to-equity ratio of 147.99, a current ratio of 1.01 and a quick ratio of 1.30. Canadian Utilities has a 1 year low of C$28.13 and a 1 year high of C$39.87. The stock has a market capitalization of C$6.17 billion, a PE ratio of 12.95, a P/E/G ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU) last released its quarterly earnings results on Thursday, February 29th. The company reported C$0.71 earnings per share for the quarter, topping the consensus estimate of C$0.69 by C$0.02. The firm had revenue of C$974.00 million for the quarter. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%. Analysts predict that Canadian Utilities will post 2.3547141 earnings per share for the current fiscal year.

Canadian Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Thursday, May 2nd will be given a dividend of $0.453 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.81 annualized dividend and a yield of 6.00%. Canadian Utilities’s payout ratio is currently 77.68%.

Insider Activity

In related news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total value of C$1,544,530.92. Insiders own 38.21% of the company’s stock.

Canadian Utilities Company Profile

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.