TD Forecasts Strong Price Appreciation for Canadian Utilities (TSE:CU) Stock

Canadian Utilities (TSE:CU) had its price target increased by research analysts at TD from C$48.00 to C$52.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s price target suggests a potential downside of 7.92% from the company’s current price.

CU has been the topic of a number of other reports. Royal Bank Of Canada lifted their price objective on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. 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. Canadian Imperial Bank of Commerce raised their price target on Canadian Utilities from C$53.00 to C$55.00 in a research report on Thursday. Finally, National Bank Financial upped their price target on shares of Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Seven research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Utilities has an average rating of “Hold” and an average target price of C$53.57.

Canadian Utilities Stock Performance

Shares of TSE CU traded up C$1.53 during trading hours on Thursday, reaching C$56.47. The stock had a trading volume of 249,809 shares, compared to its average volume of 573,813. The firm has a market cap of C$15.38 billion, a price-to-earnings ratio of 564.70, a PEG ratio of 2.38 and a beta of 0.53. Canadian Utilities has a fifty-two week low of C$37.13 and a fifty-two week high of C$56.58. The firm has a 50-day moving average of C$52.26 and a 200-day moving average of C$48.94. 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) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$0.51 earnings per share for the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%.The business had revenue of C$914.00 million during the quarter. Equities research analysts predict that Canadian Utilities will post 2.4063556 earnings per share for the current 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.