National Bank Financial Issues Positive Forecast for Canadian Utilities (TSE:CU) Stock Price

Key Points

• National Bank Financial raised its Canadian Utilities price target from C$56 to C$57, maintaining a “sector perform” rating; the new target implies 9.11% upside from the prior close.
• Analyst views are mixed, but the consensus is “Hold” with an average price target of C$54.71; ratings include one Strong Buy, one Buy, and five Holds.
• Canadian Utilities reported quarterly EPS of C$0.43 on revenue of C$902 million. Shares traded at C$52.24 on Monday.

Canadian Utilities (TSE:CU - Get Free Report) had its target price increased by analysts at National Bank Financial from C$56.00 to C$57.00 in a research note issued on Monday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's target price indicates a potential upside of 9.11% from the company's previous close.

Several other brokerages have also recently weighed in on CU. BMO Capital Markets increased their price objective on shares of Canadian Utilities from C$50.00 to C$55.00 and gave the stock a "market perform" rating in a research note on Thursday, July 30th. Royal Bank Of Canada dropped their price objective on shares of Canadian Utilities from C$63.00 to C$62.00 and set a "sector perform" rating on the stock in a report on Monday. TD boosted their target price on shares of Canadian Utilities from C$52.00 to C$57.00 and gave the company a "buy" rating in a research report on Wednesday, October 7th. Scotiabank upped their target price on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce decreased their price target on shares of Canadian Utilities from C$55.00 to C$52.00 in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of C$54.71.

Canadian Utilities Stock Performance

CU stock traded up C$0.05 during trading on Monday, reaching C$52.24. The stock had a trading volume of 132,998 shares, compared to its average volume of 624,883. Canadian Utilities has a 52 week low of C$40.87 and a 52 week high of C$56.90. The stock's 50 day moving average is C$50.53 and its two-hundred day moving average is C$50.00. The company has a current ratio of 1.80, a quick ratio of 1.30 and a debt-to-equity ratio of 184.88. The firm has a market cap of C$14.23 billion, a PE ratio of 326.50, a PEG ratio of 2.38 and a beta of 0.40.

Canadian Utilities (TSE:CU - Get Free Report) last announced its earnings results on Friday, November 6th. The company reported C$0.43 earnings per share (EPS) for the quarter. The business had revenue of C$902.00 million for the quarter. Canadian Utilities had a return on equity of 1.88% and a net margin of 3.30%. As a group, equities analysts anticipate that Canadian Utilities will post 2.41 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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