Canadian Utilities (TSE:CU) Given New C$47.00 Price Target at Canadian Imperial Bank of Commerce

Canadian Utilities (TSE:CU) had its price objective boosted by stock analysts at Canadian Imperial Bank of Commerce from C$45.00 to C$47.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s price objective indicates a potential downside of 1.43% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Royal Bank Of Canada raised their price target on Canadian Utilities from C$43.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Friday. National Bank Financial boosted their target price on shares of Canadian Utilities from C$43.00 to C$45.00 and gave the stock a “sector perform” rating in a research report on Friday. TD Securities raised 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. Scotiabank lifted their price objective on shares of Canadian Utilities from C$40.00 to C$43.00 in a research note on Tuesday, December 16th. Finally, BMO Capital Markets upped their target price on Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$44.83.

Canadian Utilities Stock Up 1.9%

Shares of CU traded up C$0.91 during midday trading on Friday, hitting C$47.68. 698,538 shares of the company’s stock traded hands, compared to its average volume of 557,869. The company has a current ratio of 1.63, a quick ratio of 1.30 and a debt-to-equity ratio of 158.34. The stock has a market capitalization of C$12.96 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.38 and a beta of 0.61. Canadian Utilities has a 1 year low of C$34.10 and a 1 year high of C$48.36. The firm’s fifty day moving average is C$44.08 and its 200-day moving average is C$41.22.

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.