CIBC Issues Positive Forecast for Canadian Utilities (TSE:CU) Stock Price

Canadian Utilities (TSE:CU) had its price target increased by stock analysts at CIBC from C$44.00 to C$45.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 2.95% from the company’s current price.

Several other brokerages have also recently commented on CU. National Bankshares raised their target price on shares of Canadian Utilities from C$40.00 to C$43.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. BMO Capital Markets upped their price objective on shares of Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. TD Securities increased their price objective on Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Finally, Scotiabank lifted their price target on Canadian Utilities from C$40.00 to C$43.00 in a report on Tuesday, December 16th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$42.83.

Canadian Utilities Stock Performance

Shares of Canadian Utilities stock traded down C$0.59 during trading hours on Wednesday, reaching C$43.71. The company’s stock had a trading volume of 157,726 shares, compared to its average volume of 340,168. The stock has a market cap of C$11.89 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. Canadian Utilities has a one year low of C$33.19 and a one year high of C$44.54. The company has a debt-to-equity ratio of 158.34, a quick ratio of 1.30 and a current ratio of 1.63. The company’s 50 day simple moving average is C$42.37 and its 200 day simple moving average is C$39.98.

Canadian Utilities (TSE:CU) last released its quarterly earnings results on Friday, November 7th. The company reported C$0.40 earnings per share for the quarter. The company had revenue of C$792.00 million for the quarter. Canadian Utilities had a return on equity of 7.21% and a net margin of 13.41%. As a group, analysts expect that Canadian Utilities will post 2.4063556 EPS 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.