Canadian Utilities (TSE:CU) Price Target Raised to C$58.00

Key Points

• Royal Bank of Canada raised Canadian Utilities’ price target to C$58.00 from C$50.00 while maintaining a “sector perform” rating, implying roughly 2.71% upside.
• Other brokerages also increased their targets, but analyst sentiment remains cautious: seven analysts rate the stock “Hold,” with an average target of C$53.57.
• Canadian Utilities shares rose 2.8% to C$56.47, near their 52-week high of C$56.58. The company reported quarterly EPS of C$0.51 on revenue of C$914 million.

Canadian Utilities (TSE:CU - Get Free Report) had its price target upped by equities researchers at Royal Bank Of Canada from C$50.00 to C$58.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 2.71% from the company's current price.

A number of other brokerages also recently 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. National Bank Financial boosted their target price on Canadian Utilities from C$51.00 to C$55.00 and gave the stock a "sector perform" rating in a research note on Thursday. Scotiabank upped their target price on Canadian Utilities from C$50.00 to C$53.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 21st. Finally, TD increased their price target on Canadian Utilities from C$48.00 to C$52.00 and gave the company a "hold" rating in a research note on Thursday. Seven research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Utilities currently has an average rating of "Hold" and an average price target of C$53.57.

Canadian Utilities Stock Up 2.8%

Shares of TSE:CU traded up C$1.53 on Thursday, reaching C$56.47. The company had a trading volume of 249,809 shares, compared to its average volume of 573,813. The firm has a market capitalization of C$15.38 billion, a PE ratio of 564.70, a PEG ratio of 2.38 and a beta of 0.53. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 186.03. Canadian Utilities has a 52-week low of C$37.13 and a 52-week high of C$56.58. The firm's 50 day simple moving average is C$52.26 and its 200-day simple moving average is C$48.94.

Canadian Utilities (TSE:CU - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported C$0.51 EPS for the quarter. The business 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%. As a group, analysts expect that Canadian Utilities will post 2.4063556 earnings per share 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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