Canadian Utilities (TSE:CU) Sets New 1-Year High – Should You Buy?

Canadian Utilities Limited (TSE:CU) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$48.31 and last traded at C$48.25, with a volume of 698745 shares. The stock had previously closed at C$47.01.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CU shares. Canadian Imperial Bank of Commerce increased their price target on shares of Canadian Utilities from C$44.00 to C$45.00 in a research note on Wednesday, January 21st. TD Securities upped their price objective on Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. BMO Capital Markets increased their target price on Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. National Bank Financial lifted their target price on Canadian Utilities from C$40.00 to C$43.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Finally, Scotiabank boosted their price target on Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$42.83.

Canadian Utilities Price 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 has a market cap of C$13.01 billion, a PE ratio of 24.42, a P/E/G ratio of 2.38 and a beta of 0.61. The company has a 50-day moving average price of C$43.99 and a two-hundred day moving average price of C$41.18.

Canadian Utilities Company Profile

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.