Canadian Utilities (TSE:CU) Stock Gets Price Target Boost from TD

Key Points

• TD raised Canadian Utilities’ price target from C$52 to C$57 and maintained a “buy” rating, implying approximately 15.27% upside from the reported C$49.45 share price.
• Analyst sentiment remains cautious overall: Canadian Utilities has a consensus “hold” rating and an average target price of C$53.86, with one buy rating and six hold ratings.
• Shares fell C$0.75 to C$49.45 in Wednesday trading. The company reported quarterly revenue of C$914 million and EPS of C$0.51, while its high debt-to-equity ratio stood at 184.88.

Canadian Utilities (TSE:CU - Get Free Report) had its price objective upped by equities researchers at TD from C$52.00 to C$57.00 in a research report issued on Wednesday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. TD's price objective would indicate a potential upside of 15.27% from the company's current price.

CU has been the subject of a number of other reports. Canadian Imperial Bank of Commerce reduced their price objective on shares of Canadian Utilities from C$55.00 to C$52.00 in a research note on Tuesday, September 22nd. BMO Capital Markets lifted their target price on shares of Canadian Utilities from C$50.00 to C$55.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. National Bank Financial upped their target price on shares of Canadian Utilities from C$51.00 to C$55.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Scotiabank increased their price target on Canadian Utilities from C$50.00 to C$53.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada raised their price target on Canadian Utilities from C$50.00 to C$58.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$53.86.

Canadian Utilities Stock Performance

Shares of TSE CU traded down C$0.75 during trading on Wednesday, hitting C$49.45. The company had a trading volume of 526,050 shares, compared to its average volume of 583,803. Canadian Utilities has a 12 month low of C$38.51 and a 12 month high of C$56.90. The company has a debt-to-equity ratio of 184.88, a quick ratio of 1.30 and a current ratio of 1.80. The firm has a market capitalization of C$13.47 billion, a P/E ratio of 309.06, a price-to-earnings-growth ratio of 2.38 and a beta of 0.36. The stock has a 50 day simple moving average of C$51.98 and a 200 day simple moving average of C$51.06.

Canadian Utilities (TSE:CU - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share (EPS) for the quarter. Canadian Utilities had a net margin of 3.30% and a return on equity of 1.88%. The company had revenue of C$914.00 million during the quarter. As a group, analysts anticipate that Canadian Utilities will post 2.4063556 earnings per share for the current year.

About Canadian Utilities

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.

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