Canadian Utilities (TSE:CU) Sets New 1-Year High – What’s Next?

Canadian Utilities Limited (TSE:CU)’s stock price hit a new 52-week high on Thursday . The stock traded as high as C$52.38 and last traded at C$52.05, with a volume of 33982 shares traded. The stock had previously closed at C$51.52.

Wall Street Analysts Forecast Growth

CU has been the subject of several recent research reports. National Bank Financial boosted their price objective on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. TD Securities boosted their price objective on Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada boosted their price objective on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. TD boosted their price objective on Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$47.71.

Canadian Utilities Trading Up 0.1%

The stock has a market cap of C$14.05 billion, a price-to-earnings ratio of 515.90, a P/E/G ratio of 2.38 and a beta of 0.52. 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 business has a 50-day simple moving average of C$49.26 and a two-hundred day simple moving average of C$46.23.

Canadian Utilities (TSE:CU) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%.The company had revenue of C$1.08 billion during the quarter. As a group, research analysts forecast 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.