Canadian Utilities (TSE:CU) Price Target Raised to C$39.00

Canadian Utilities (TSE:CU) had its target price increased by Royal Bank of Canada from C$38.00 to C$39.00 in a research note released on Friday,BayStreet.CA reports.

Several other equities analysts have also commented on CU. CIBC raised their price target on Canadian Utilities from C$34.00 to C$35.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. National Bankshares raised their target price on shares of Canadian Utilities from C$34.00 to C$37.00 in a research report on Friday, August 23rd. Scotiabank upped their price target on shares of Canadian Utilities from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets lifted their price objective on shares of Canadian Utilities from C$35.50 to C$37.00 in a report on Thursday, September 5th.

Canadian Utilities Stock Up 1.7 %

Shares of CU opened at C$34.98 on Friday. The firm has a market capitalization of C$7.17 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.38 and a beta of 0.66. Canadian Utilities has a 12-month low of C$29.15 and a 12-month high of C$37.10. The firm has a fifty day moving average price of C$35.45 and a 200-day moving average price of C$32.80. The company has a current ratio of 1.29, a quick ratio of 1.30 and a debt-to-equity ratio of 149.94.

Canadian Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.453 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.18%. Canadian Utilities’s payout ratio is currently 91.41%.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.