Canadian Utilities (TSE:CU) Reaches New 12-Month High – Time to Buy?

Canadian Utilities Limited (TSE:CU)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as C$44.62 and last traded at C$44.56, with a volume of 51454 shares traded. The stock had previously closed at C$44.29.

Wall Street Analysts Forecast Growth

Several research firms have commented on CU. National Bankshares boosted their price target on shares of 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. CIBC increased their price objective on Canadian Utilities from C$44.00 to C$45.00 in a report on Wednesday, January 21st. TD Securities boosted their target price on Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. BMO Capital Markets upped their price target on Canadian Utilities from C$42.00 to C$44.00 in a report on Monday, November 10th. Finally, Scotiabank raised their price objective on shares of Canadian Utilities from C$40.00 to C$43.00 in a report on Tuesday, December 16th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$42.83.

Canadian Utilities Price Performance

The company has a current ratio of 1.63, a quick ratio of 1.30 and a debt-to-equity ratio of 158.34. The firm has a market cap of C$12.06 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. The company has a 50 day moving average price of C$42.54 and a 200 day moving average price of C$40.22.

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