National Bankshares Boosts Canadian Utilities (TSE:CU) Price Target to C$34.00

Canadian Utilities (TSE:CU) had its price objective upped by National Bankshares from C$33.00 to C$34.00 in a report published on Tuesday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other research analysts also recently issued reports on the company. CIBC lowered their price objective on Canadian Utilities from C$35.00 to C$34.00 and set a neutral rating for the company in a research note on Friday, April 19th. Scotiabank upped their price objective on Canadian Utilities from C$33.00 to C$34.00 and gave the company a sector perform rating in a research note on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of C$35.00.

Canadian Utilities Trading Up 0.5 %

CU opened at C$32.51 on Tuesday. Canadian Utilities has a twelve month low of C$28.13 and a twelve month high of C$33.72. The company has a 50-day simple moving average of C$30.80 and a 200 day simple moving average of C$30.77. The company has a quick ratio of 1.30, a current ratio of 1.03 and a debt-to-equity ratio of 145.09. The stock has a market capitalization of C$6.65 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.38 and a beta of 0.60.

Canadian Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 8th will be paid a $0.453 dividend. This represents a $1.81 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend is Thursday, August 8th. Canadian Utilities’s dividend payout ratio is currently 84.58%.

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.