Canadian Utilities (TSE:CU) Price Target Raised to C$56.00

Canadian Utilities (TSE:CU) had its price objective raised by National Bank Financial from C$55.00 to C$56.00 in a report published on Thursday,BayStreet reports. National Bank Financial currently has a sector perform rating on the stock.

Several other equities analysts have also issued reports on CU. TD upped their price target on Canadian Utilities from C$52.00 to C$57.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on Canadian Utilities from C$50.00 to C$55.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. TD Securities upgraded shares of Canadian Utilities from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Canadian Imperial Bank of Commerce reduced their target price on shares of Canadian Utilities from C$55.00 to C$52.00 in a research note on Tuesday, September 22nd. Finally, Scotiabank lifted their price target on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Canadian Utilities has an average rating of “Hold” and an average target price of C$54.71.

Canadian Utilities Stock Performance

CU stock opened at C$49.23 on Thursday. The company has a 50 day moving average price of C$51.61 and a 200 day moving average price of C$51.07. Canadian Utilities has a fifty-two week low of C$38.51 and a fifty-two week high of C$56.90. The company has a debt-to-equity ratio of 184.88, a current ratio of 1.80 and a quick ratio of 1.30. The stock has a market capitalization of C$13.41 billion, a PE ratio of 307.69, a price-to-earnings-growth ratio of 2.38 and a beta of 0.36.

Canadian Utilities (TSE:CU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.51 EPS for the quarter. The firm had revenue of C$914.00 million for the quarter. Canadian Utilities had a return on equity of 1.88% and a net margin of 3.30%. Analysts forecast that Canadian Utilities will post 2.41 EPS for the current year.

About Canadian Utilities

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.