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

Shares of Canadian Utilities Limited (TSE:CU) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$52.39 and last traded at C$52.39, with a volume of 35595 shares. The stock had previously closed at C$52.30.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD boosted their price target on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the company a “hold” rating in a report on Friday, May 8th. National Bank Financial raised their price objective on shares of Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. TD Securities upped their target price on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada increased their price target on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$47.71.

Canadian Utilities Stock Performance

The company has a market capitalization of C$14.20 billion, a P/E ratio of 521.40, a PEG ratio of 2.38 and a beta of 0.52. The stock has a fifty day simple moving average of C$49.62 and a 200-day simple moving average of C$46.84. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 186.03.

Canadian Utilities (TSE:CU) last issued its earnings results on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. The company had revenue of C$1.08 billion for the quarter. Equities 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.