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

Canadian Utilities Limited (TSE:CU) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as C$38.67 and last traded at C$38.42, with a volume of 924733 shares changing hands. The stock had previously closed at C$38.06.

Analyst Ratings Changes

CU has been the topic of several analyst reports. Scotiabank raised their target price on Canadian Utilities from C$37.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Royal Bank of Canada lifted their price target on Canadian Utilities from C$39.00 to C$41.00 and gave the company a “sector perform” rating in a research report on Thursday, May 8th. Finally, CIBC lifted their price target on Canadian Utilities from C$38.00 to C$40.00 in a research report on Friday, April 4th.

Canadian Utilities Trading Up 0.9%

The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34. The company has a 50-day moving average price of C$37.02 and a 200 day moving average price of C$35.55. The firm has a market cap of C$7.85 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.38 and a beta of 0.66.

Insider Buying and Selling

In related news, Senior Officer James Armstrong sold 1,258 shares of Canadian Utilities stock in a transaction dated Friday, May 9th. The stock was sold at an average price of C$37.98, for a total transaction of C$47,778.84. Following the sale, the insider now directly owns 136 shares of the company’s stock, valued at C$5,165.28. This trade represents a 90.24% decrease in their ownership of the stock. Over the last ninety days, insiders sold 1,908 shares of company stock worth $71,135. Corporate insiders own 37.58% of the company’s stock.

Canadian Utilities Company Profile

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.