Canadian Utilities (TSE:CU) Price Target Raised to C$52.00

Key Points

• TD raised Canadian Utilities’ price target to C$52.00 from C$48.00 while maintaining a “hold” rating, implying 7.92% downside from the stock’s current price.
• Other analysts also increased their targets, with the consensus rating remaining “Hold” and the average price target at C$53.57.
• Canadian Utilities shares climbed to C$56.47, near their 52-week high of C$56.58; the company recently reported quarterly EPS of C$0.51 on revenue of C$914 million.

Canadian Utilities (TSE:CU - Get Free Report) had its target price hoisted by equities research analysts at TD from C$48.00 to C$52.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD's price objective points to a potential downside of 7.92% from the company's current price.

A number of other equities research analysts have also issued reports on CU. Canadian Imperial Bank of Commerce upped their price target on Canadian Utilities from C$53.00 to C$55.00 in a research report on Thursday. Scotiabank boosted their price objective 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. National Bank Financial upped their target price on Canadian Utilities from C$46.00 to C$51.00 and gave the company a "sector perform" rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada raised their target price on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. Seven analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of C$53.57.

Canadian Utilities Price Performance

Shares of TSE CU traded up C$1.53 during mid-day trading on Thursday, reaching C$56.47. The company's stock had a trading volume of 249,809 shares, compared to its average volume of 573,813. The stock has a 50-day moving average of C$52.26 and a two-hundred day moving average of C$48.94. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. The stock has a market capitalization of C$15.38 billion, a P/E ratio of 564.70, a P/E/G ratio of 2.38 and a beta of 0.53. Canadian Utilities has a 1-year low of C$37.13 and a 1-year high of C$56.58.

Canadian Utilities (TSE:CU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.51 earnings per share (EPS) for the quarter. The company had revenue of C$914.00 million during the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. On average, equities research analysts anticipate that Canadian Utilities will post 2.4063556 EPS for the current fiscal 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.

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