Royal Bank Of Canada Forecasts Strong Price Appreciation for Canadian Utilities (TSE:CU) Stock

Canadian Utilities (TSE:CU) had its price target lifted by research analysts at Royal Bank Of Canada from C$50.00 to C$58.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 2.71% from the company’s current price.

CU has been the subject of several other reports. TD lifted their price objective on shares of Canadian Utilities from C$48.00 to C$52.00 and gave the company a “hold” rating in a research note on Thursday. Scotiabank increased their price objective on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. National Bank Financial raised their target price on shares of Canadian Utilities from C$51.00 to C$55.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian Utilities from C$53.00 to C$55.00 in a research report on Thursday. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Canadian Utilities presently has a consensus rating of “Hold” and a consensus price target of C$53.57.

Canadian Utilities Stock Performance

Canadian Utilities stock traded up C$1.53 during trading hours on Thursday, hitting C$56.47. 249,809 shares of the stock traded hands, compared to its average volume of 573,813. The firm’s 50 day moving average price is C$52.26 and its 200-day moving average price is C$48.94. The company has a debt-to-equity ratio of 186.03, a current ratio of 1.32 and a quick ratio of 1.30. The stock has a market capitalization of C$15.38 billion, a price-to-earnings ratio of 564.70, a P/E/G ratio of 2.38 and a beta of 0.53. Canadian Utilities has a 1 year low of C$37.13 and a 1 year high of C$56.58.

Canadian Utilities (TSE:CU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.51 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 firm had revenue of C$914.00 million during the quarter. As a group, equities analysts expect that Canadian Utilities will post 2.4063556 EPS for the current fiscal 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.