Canadian Utilities (TSE:CU) Sets New 12-Month High – Here’s Why

Canadian Utilities Limited (TSE:CU) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$48.75 and last traded at C$47.98, with a volume of 59307 shares traded. The stock had previously closed at C$48.26.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian Utilities from C$45.00 to C$47.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. BMO Capital Markets upped their price objective on Canadian Utilities from C$42.00 to C$44.00 in a research note on Monday, November 10th. TD Securities raised their target price on Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a research report on Tuesday. Scotiabank upped their price target on Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. Finally, Royal Bank Of Canada increased their price target on Canadian Utilities from C$43.00 to C$49.00 and gave the stock a “sector perform” rating in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$45.83.

Canadian Utilities Price Performance

The business’s 50 day moving average is C$44.65 and its two-hundred day moving average is C$41.55. The company has a debt-to-equity ratio of 194.86, a quick ratio of 1.30 and a current ratio of 1.56. The firm has a market capitalization of C$13.10 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66.

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.