Canadian Utilities (TSE:CU) Reaches New 1-Year High – Here’s Why

Shares of Canadian Utilities Limited (TSE:CU) reached a new 52-week high on Thursday . The stock traded as high as C$53.86 and last traded at C$53.65, with a volume of 20138 shares traded. The stock had previously closed at C$53.59.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce raised their target price on Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. National Bank Financial boosted their price target on shares of Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. TD increased their price target on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada increased their price target on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$47.71.

Canadian Utilities Trading Up 1.2%

The firm has a 50 day moving average of C$51.24 and a 200 day moving average of C$48.20. The firm has a market cap of C$14.93 billion, a PE ratio of 548.30, a P/E/G ratio of 2.38 and a beta of 0.53. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 186.03.

Canadian Utilities (TSE:CU) last released its earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share (EPS) for the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%.The business had revenue of C$1.08 billion during the quarter. Equities analysts anticipate 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.