Canadian Utilities (TSE:CU) Given New C$55.00 Price Target at National Bank Financial

Canadian Utilities (TSE:CU) had its target price raised by stock analysts at National Bank Financial from C$51.00 to C$55.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price objective would suggest a potential downside of 2.60% from the stock’s current price.

Several other equities analysts have also issued reports on the company. TD lifted their price target on Canadian Utilities from C$48.00 to C$52.00 and gave the company a “hold” rating in a research note on Thursday. Canadian Imperial Bank of Commerce raised their price objective on Canadian Utilities from C$53.00 to C$55.00 in a research note on Thursday. Scotiabank lifted their target price on Canadian Utilities from C$50.00 to C$53.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada boosted their target price on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$53.57.

Canadian Utilities Price Performance

Shares of TSE CU traded up C$1.53 during trading hours on Thursday, hitting C$56.47. 249,809 shares of the stock were exchanged, compared to its average volume of 573,813. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. The company has a market cap of C$15.38 billion, a PE ratio of 564.70, a price-to-earnings-growth ratio of 2.38 and a beta of 0.53. The company’s fifty day simple moving average is C$52.26 and its two-hundred day simple moving average is C$48.94. Canadian Utilities has a 1-year low of C$37.13 and a 1-year high of C$56.58.

Canadian Utilities (TSE:CU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.51 EPS for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. The business had revenue of C$914.00 million during the quarter. On average, sell-side analysts predict that Canadian Utilities 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.