Canadian Utilities (TSE:CU) Hits New 52-Week High – Here’s Why

Shares of Canadian Utilities Limited (TSE:CU) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$42.97 and last traded at C$42.97, with a volume of 51737 shares. The stock had previously closed at C$42.73.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CU shares. National Bankshares increased their price objective on Canadian Utilities from C$40.00 to C$43.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. Scotiabank upped their price target on Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. CIBC lifted their price objective on shares of Canadian Utilities from C$43.00 to C$44.00 in a report on Wednesday, December 17th. TD Securities boosted their price objective on shares of Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Finally, BMO Capital Markets increased their target price on shares of Canadian Utilities from C$42.00 to C$44.00 in a report on Monday, November 10th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Canadian Utilities currently has a consensus rating of “Hold” and an average target price of C$42.67.

Canadian Utilities Stock Performance

The company has a debt-to-equity ratio of 158.34, a current ratio of 1.63 and a quick ratio of 1.30. The company’s fifty day simple moving average is C$41.54 and its two-hundred day simple moving average is C$39.45. The stock has a market cap of C$11.67 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 2.38 and a beta of 0.50.

Canadian Utilities (TSE:CU) last posted its earnings results on Friday, November 7th. The company reported C$0.40 EPS for the quarter. The company had revenue of C$792.00 million during the quarter. Canadian Utilities had a net margin of 13.41% and a return on equity of 7.21%. On average, analysts forecast that Canadian Utilities Limited will post 2.4063556 earnings per share for the current 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.