Canadian Utilities (TSE:CU) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised Canadian Utilities’ price target to C$55 from C$50 while maintaining a “market perform” rating; the new target implies 2.6% downside from the prior close.
• Other analysts also lifted their targets, ranging from C$52 to C$58, but the overall consensus remains “Hold” with a C$53.57 average price target.
• Canadian Utilities shares rose to C$56.47, near their 52-week high of C$56.58. In its latest quarter, the company reported C$0.51 in EPS and C$914 million in revenue.

Canadian Utilities (TSE:CU - Get Free Report) had its target price hoisted by BMO Capital Markets from C$50.00 to C$55.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "market perform" rating on the stock. BMO Capital Markets' price target suggests a potential downside of 2.60% from the company's previous close.

Several other research analysts have also recently commented on the stock. Scotiabank upped their target price on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. Royal Bank Of Canada lifted their price target on Canadian Utilities from C$50.00 to C$58.00 and gave the company a "sector perform" rating in a report on Thursday. National Bank Financial increased their price objective on Canadian Utilities from C$51.00 to C$55.00 and gave the stock a "sector perform" rating in a report on Thursday. Canadian Imperial Bank of Commerce increased their price objective on Canadian Utilities from C$53.00 to C$55.00 in a report on Thursday. Finally, TD raised their target price on Canadian Utilities from C$48.00 to C$52.00 and gave the company a "hold" rating in a research report on Thursday. Seven research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$53.57.

Canadian Utilities Stock Performance

Shares of CU traded up C$1.53 during midday trading on Thursday, hitting C$56.47. 249,809 shares of the stock traded hands, compared to its average volume of 573,813. The business's 50 day moving average price is C$52.26 and its two-hundred day moving average price is C$48.94. The firm has a market capitalization of C$15.38 billion, a PE ratio of 564.70, a price-to-earnings-growth ratio of 2.38 and a beta of 0.53. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. 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 released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.51 earnings per share for the quarter. The business had revenue of C$914.00 million for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. Equities research analysts predict that Canadian Utilities will post 2.4063556 EPS for the current fiscal year.

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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