Canadian Utilities (TSE:CU) Reaches New 52-Week High – Here’s What Happened

Shares of Canadian Utilities Limited (TSE:CU) hit a new 52-week high on Wednesday . The company traded as high as C$50.10 and last traded at C$49.85, with a volume of 898273 shares. The stock had previously closed at C$49.37.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CU. National Bank Financial lifted their target price on Canadian Utilities from C$43.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Friday, February 27th. Royal Bank Of Canada raised their price objective on shares of Canadian Utilities from C$43.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce raised their price objective on shares of Canadian Utilities from C$45.00 to C$47.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. TD Securities raised their price objective 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. Finally, Scotiabank raised their price objective on shares of Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of C$45.83.

Canadian Utilities Trading Up 1.0%

The company has a market cap of C$13.57 billion, a price-to-earnings ratio of 332.33, a P/E/G ratio of 2.38 and a beta of 0.55. The company has a current ratio of 1.56, a quick ratio of 1.30 and a debt-to-equity ratio of 194.86. The firm’s 50-day moving average price is C$47.13 and its 200 day moving average price is C$43.31.

Canadian Utilities (TSE:CU) last issued its earnings results on Thursday, February 26th. The company reported C$0.72 earnings per share for the quarter. Canadian Utilities had a return on equity of 1.74% and a net margin of 3.22%.The company had revenue of C$971.00 million for the quarter. As a group, equities analysts expect that Canadian Utilities Limited will post 2.4063556 EPS 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.