Canadian Utilities (TSE:CU) Reaches New 52-Week High – Still a Buy?

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$43.76 and last traded at C$43.28, with a volume of 623224 shares. The stock had previously closed at C$43.11.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CU shares. Scotiabank increased their target price on Canadian Utilities from C$40.00 to C$43.00 in a report on Tuesday, December 16th. 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. CIBC raised their target price on shares of Canadian Utilities from C$43.00 to C$44.00 in a report on Wednesday, December 17th. TD Securities upped their price target on shares of Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, National Bankshares lifted their price objective on shares of Canadian Utilities from C$40.00 to C$43.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$42.67.

Canadian Utilities Stock Performance

The stock has a market cap of C$11.84 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.38 and a beta of 0.55. 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 company has a 50 day simple moving average of C$42.24 and a 200 day simple moving average of C$39.82.

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