Canadian Utilities (TSE:CU) Price Target Lowered to C$34.00 at CIBC

Canadian Utilities (TSE:CU) had its target price cut by CIBC from C$35.00 to C$34.00 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a neutral rating on the stock.

Canadian Utilities Trading Up 1.3 %

Shares of CU stock opened at C$30.20 on Friday. Canadian Utilities has a twelve month low of C$28.13 and a twelve month high of C$39.87. The firm has a 50-day moving average price of C$30.51 and a 200 day moving average price of C$30.70. The company has a current ratio of 1.01, a quick ratio of 1.30 and a debt-to-equity ratio of 147.99. The company has a market capitalization of C$6.17 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.71 EPS for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.02. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%. The company had revenue of C$974.00 million during the quarter. Research analysts forecast that Canadian Utilities will post 2.3547141 earnings per share for the current fiscal year.

Canadian Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Thursday, May 2nd will be given a dividend of $0.453 per share. This represents a $1.81 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Wednesday, May 1st. Canadian Utilities’s dividend payout ratio (DPR) is presently 77.68%.

Insiders Place Their Bets

In other Canadian Utilities news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total value of C$1,544,530.92. 38.21% of the stock is owned by company insiders.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.