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

Key Points

• Shares of Canadian Utilities reached a new 52-week high of C$48.63 (last C$48.57) on Thursday, with about 83,799 shares traded.
• Several banks raised price targets recently (RBC to C$49, TD to C$47, CIBC to C$47), but the consensus remains a Hold rating with an average target of C$45.83.
• The company has a market cap of C$13.22 billion and shows a very high reported valuation and leverage (P/E 323.8 and debt-to-equity 194.86), suggesting elevated valuation and significant indebtedness.

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as C$48.63 and last traded at C$48.57, with a volume of 83799 shares traded. The stock had previously closed at C$48.27.

Analyst Ratings Changes

A number of research firms have recently weighed in on CU. TD Securities increased their target price on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the company a "hold" rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada upped their price objective on Canadian Utilities from C$43.00 to C$49.00 and gave the company a "sector perform" rating in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce increased their price objective on Canadian Utilities from C$45.00 to C$47.00 and gave the company a "neutral" rating in a report on Friday, February 27th. National Bank Financial raised their target price on Canadian Utilities from C$43.00 to C$45.00 and gave the stock a "sector perform" rating in a research report on Friday, February 27th. Finally, Scotiabank boosted their target price on Canadian Utilities from C$40.00 to C$43.00 in a research note on Tuesday, December 16th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$45.83.

Canadian Utilities Price Performance

The stock has a market cap of C$13.22 billion, a P/E ratio of 323.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 194.86. The business's 50-day simple moving average is C$45.10 and its two-hundred day simple moving average is C$41.85.

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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