Canadian Utilities (TSE:CU) Hits New 12-Month High on Analyst Upgrade

Canadian Utilities Limited (TSE:CU)’s share price hit a new 52-week high during trading on Thursday after BMO Capital Markets raised their price target on the stock from C$35.50 to C$37.00. The stock traded as high as C$35.05 and last traded at C$34.92, with a volume of 24402 shares trading hands. The stock had previously closed at C$34.55.

Several other equities analysts have also issued reports on the stock. CIBC lifted their price objective on shares of Canadian Utilities from C$34.00 to C$35.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Scotiabank lifted their price target on Canadian Utilities from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, National Bankshares raised their price objective on Canadian Utilities from C$34.00 to C$37.00 in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$36.17.

Canadian Utilities Stock Down 0.4 %

The company has a debt-to-equity ratio of 149.94, a quick ratio of 1.30 and a current ratio of 1.29. The company has a market capitalization of C$7.08 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.38 and a beta of 0.65. The business’s 50 day moving average is C$31.97 and its 200 day moving average is C$31.16.

Canadian Utilities (TSE:CU) last posted its quarterly earnings data on Friday, August 2nd. The company reported C$0.43 EPS for the quarter, topping the consensus estimate of C$0.42 by C$0.01. Canadian Utilities had a net margin of 16.43% and a return on equity of 8.72%. The business had revenue of C$860.00 million during the quarter. Sell-side analysts anticipate that Canadian Utilities Limited will post 2.4100069 earnings per share for the current year.

Canadian Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 8th were issued a $0.453 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.81 annualized dividend and a yield of 5.25%. Canadian Utilities’s dividend payout ratio (DPR) is presently 91.41%.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.