Canadian Utilities (TSE:CU) Hits New 1-Year High – Time to Buy?

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during mid-day trading on Friday . The company 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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. National Bank Financial boosted their price objective on shares of Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a research note on Monday. TD boosted their price objective on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. Royal Bank Of Canada boosted their price objective on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Finally, TD Securities boosted their target price on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$47.71.

Canadian Utilities Stock Up 1.2%

The stock has a market capitalization of C$13.93 billion, a price-to-earnings ratio of 511.70, a PEG ratio of 2.38 and a beta of 0.60. The firm’s fifty day moving average is C$49.06 and its 200-day moving average is C$45.98. The company has a debt-to-equity ratio of 186.03, a current ratio of 1.32 and a quick ratio of 1.30.

Canadian Utilities (TSE:CU) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share (EPS) for the quarter. The firm had revenue of C$1.08 billion for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. On average, sell-side analysts predict that Canadian Utilities Limited will post 2.4063556 earnings per share for the current year.

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.