Canadian Utilities (TSE:CU) Reaches New 12-Month High – Here’s What Happened

Canadian Utilities Limited (TSE:CU) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$48.31 and last traded at C$48.25, with a volume of 698745 shares. The stock had previously closed at C$47.01.

Analyst Ratings Changes

Several brokerages have recently commented on CU. TD Securities boosted their price objective on Canadian Utilities from C$40.00 to C$41.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. National Bank Financial lifted their price objective on shares of Canadian Utilities from C$40.00 to C$43.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. BMO Capital Markets increased their price objective on shares of Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. Scotiabank lifted their target price on Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Canadian Utilities from C$44.00 to C$45.00 in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Canadian Utilities presently has an average rating of “Hold” and a consensus target price of C$42.83.

Canadian Utilities Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34. The firm has a 50-day moving average price of C$43.77 and a 200 day moving average price of C$41.06. The firm has a market capitalization of C$13.12 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.38 and a beta of 0.61.

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.