Canadian Utilities (TSE:CU) Hits New 12-Month High on Analyst Upgrade

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during trading on Thursday after BMO Capital Markets raised their price target on the stock from C$35.50 to C$37.00. The company traded as high as C$35.05 and last traded at C$34.92, with a volume of 24402 shares traded. The stock had previously closed at C$34.55.

Other research analysts also recently issued reports about the company. National Bankshares lifted their target price on Canadian Utilities from C$34.00 to C$37.00 in a research note on Friday, August 23rd. Scotiabank lifted their price objective 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, CIBC upped their price objective on shares of Canadian Utilities from C$34.00 to C$35.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Utilities currently has an average rating of “Hold” and a consensus target price of C$36.17.

Canadian Utilities Stock Performance

The stock’s 50-day simple moving average is C$31.97 and its 200-day simple moving average is C$31.16. The stock has a market cap of C$7.08 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.38 and a beta of 0.65. 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 (TSE:CU) last issued its quarterly earnings results on Friday, August 2nd. The company reported C$0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.42 by C$0.01. The business had revenue of C$860.00 million for the quarter. Canadian Utilities had a return on equity of 8.72% and a net margin of 16.43%. Analysts forecast that Canadian Utilities Limited will post 2.4100069 earnings per share for the current fiscal year.

Canadian Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 8th were given a $0.453 dividend. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date was Thursday, August 8th. 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.