Canadian Utilities (TSE:CU) Reaches New 12-Month High – What’s Next?

Canadian Utilities Limited (TSE:CU) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$46.52 and last traded at C$46.38, with a volume of 713806 shares changing hands. The stock had previously closed at C$45.91.

Analysts Set New Price Targets

Several brokerages recently commented on CU. TD Securities increased their target price on shares of Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Scotiabank raised their price objective on Canadian Utilities from C$40.00 to C$43.00 in a report on Tuesday, December 16th. Canadian Imperial Bank of Commerce upped their target price on Canadian Utilities from C$44.00 to C$45.00 in a report on Wednesday, January 21st. BMO Capital Markets increased their price target on Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. Finally, National Bank Financial raised their price target on Canadian Utilities from C$40.00 to C$43.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Utilities has an average rating of “Hold” and an average price target of C$42.83.

Canadian Utilities Stock Performance

The company has a debt-to-equity ratio of 158.34, a current ratio of 1.63 and a quick ratio of 1.30. The stock has a 50-day moving average price of C$43.31 and a 200-day moving average price of C$40.82. The company has a market capitalization of C$12.61 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 2.38 and a beta of 0.61.

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.