TD Raises Canadian Utilities (TSE:CU) Price Target to C$48.00

Key Points

• TD raised its price target on Canadian Utilities to C$48.00 (from C$47.00) while maintaining a "Hold" rating, and several other brokers have also nudged up targets, leaving a consensus "Hold" with an average target of C$47.00.
• The stock traded at C$48.04 with a market cap of C$13.07 billion, a very high P/E of 320.27, a 50-day SMA of C$48.53 and a 200-day SMA of C$44.72, indicating it is trading near analyst targets but carries rich valuation metrics.
• In the most recent quarter CU reported C$0.89 EPS on C$1.08 billion revenue, with a net margin of 2.9% and ROE of 1.59%, and analysts project roughly C$2.41 earnings per share for the current fiscal year.

Canadian Utilities (TSE:CU - Get Free Report) had its price objective increased by equities research analysts at TD from C$47.00 to C$48.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD's price objective suggests a potential downside of 0.08% from the stock's previous close.

A number of other brokerages have also recently commented on CU. Canadian Imperial Bank of Commerce lifted their price objective on shares of Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. Royal Bank Of Canada lifted their target price on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a "sector perform" rating in a report on Thursday. National Bank Financial lifted their target price on Canadian Utilities from C$45.00 to C$46.00 and gave the stock a "sector perform" rating in a report on Thursday. Finally, TD Securities lifted their price target on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the stock a "hold" rating in a research note on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Canadian Utilities currently has a consensus rating of "Hold" and an average target price of C$47.00.

Canadian Utilities Price Performance

CU traded up C$0.11 during trading on Friday, hitting C$48.04. 113,520 shares of the company traded hands, compared to its average volume of 582,307. The company has a market cap of C$13.07 billion, a PE ratio of 320.27, a P/E/G ratio of 2.38 and a beta of 0.60. The stock's 50-day simple moving average is C$48.53 and its two-hundred day simple moving average is C$44.72. Canadian Utilities has a 1 year low of C$36.23 and a 1 year high of C$51.05. 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 (TSE:CU - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share for the quarter. The company had revenue of C$1.08 billion during the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. As a group, sell-side analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.