Canadian Utilities (TSE:CU) Reaches New 1-Year High – Time to Buy?

Shares of Canadian Utilities Limited (TSE:CU) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$43.34 and last traded at C$43.31, with a volume of 31363 shares. The stock had previously closed at C$42.78.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CU. TD Securities increased their target price on Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. CIBC increased their price objective on shares of Canadian Utilities from C$43.00 to C$44.00 in a report on Wednesday, December 17th. National Bankshares raised their target price on shares of Canadian Utilities from C$40.00 to C$43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Scotiabank upped their price target on shares of Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. Finally, BMO Capital Markets increased their price target on shares of Canadian Utilities from C$42.00 to C$44.00 in a research note on Monday, November 10th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Canadian Utilities has a consensus rating of “Hold” and a consensus price target of C$42.67.

Canadian Utilities Stock Performance

The stock’s 50-day moving average is C$41.93 and its 200-day moving average is C$39.66. 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 cap of C$11.74 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 2.38 and a beta of 0.55.

Canadian Utilities (TSE:CU) last released its quarterly earnings data on Friday, November 7th. The company reported C$0.40 earnings per share (EPS) for the quarter. Canadian Utilities had a net margin of 13.41% and a return on equity of 7.21%. The company had revenue of C$792.00 million during the quarter. On average, analysts expect that Canadian Utilities Limited will post 2.4063556 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.