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

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$44.62 and last traded at C$44.56, with a volume of 51454 shares traded. The stock had previously closed at C$44.29.

Analysts Set New Price Targets

A number of analysts recently issued reports on CU shares. National Bankshares increased 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. BMO Capital Markets increased their price objective on shares of Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. CIBC lifted their target price on shares of Canadian Utilities from C$44.00 to C$45.00 in a report on Wednesday, January 21st. TD Securities upped 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 research report on Tuesday, November 11th. Finally, Scotiabank upped their target price on Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Utilities currently has an average rating of “Hold” and a consensus target price of C$42.83.

Canadian Utilities Trading Up 0.1%

The firm has a market cap of C$11.98 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. The business’s 50 day moving average is C$42.63 and its 200-day moving average is C$40.29. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34.

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