Canadian Utilities (TSE:CU) Reaches New 1-Year High - Here's Why

Key Points

• Canadian Utilities Limited (TSE:CU) shares reached a new 52-week high of C$39.95 during trading, reflecting a steady growth trend.
• TD Securities upgraded the stock to a "hold" rating with a price target of C$40.00, contributing to an average price target of C$39.75 among analysts.
• The company's market cap stands at C$10.83 billion, with a strong debt-to-equity ratio of 158.34 and a notable price-to-earnings ratio of 24.30.

Canadian Utilities Limited (TSE:CU - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$39.95 and last traded at C$39.85, with a volume of 721486 shares changing hands. The stock had previously closed at C$39.73.

Analysts Set New Price Targets

Separately, TD Securities upgraded Canadian Utilities to a "hold" rating and set a C$40.00 price objective on the stock in a research report on Friday, June 27th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$39.75.

Canadian Utilities Stock Up 0.3%

The stock has a 50-day moving average of C$38.37 and a 200-day moving average of C$37.96. The company has a debt-to-equity ratio of 158.34, a current ratio of 1.63 and a quick ratio of 1.30. The firm has a market cap of C$10.83 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 2.38 and a beta of 0.46.

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.

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