Canadian Utilities (TSE:CU) Sets New 1-Year High - What's Next?

Key Points

• Canadian Utilities Limited shares reached a new 52-week high of C$39.68 during trading, indicating strong market interest with a last traded price of C$39.66.
• TD Securities upgraded the stock to a "hold" rating with a price objective of C$40.00, aligning with analysts' consensus rating of "Hold" and an average target price of C$39.75.
• The company, headquartered in Calgary, Alberta, primarily offers gas and electricity services and operates mainly in Canada and Australia, along with some presence in the U.S. and Mexico.

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$39.68 and last traded at C$39.66, with a volume of 132133 shares. The stock had previously closed at C$38.90.

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 report on Friday, June 27th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$39.75.

Canadian Utilities Trading Up 1.9%

The company has a market cap of C$10.78 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.38 and a beta of 0.46. The firm has a 50-day moving average price of C$38.26 and a 200 day moving average price of C$37.89. The company has a current ratio of 1.63, a quick ratio of 1.30 and a debt-to-equity ratio of 158.34.

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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