Canadian Utilities (TSE:CU) Sets New 52-Week High – What’s Next?

Shares of Canadian Utilities Limited (TSE:CU) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$36.29 and last traded at C$36.25, with a volume of 85943 shares. The stock had previously closed at C$35.59.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CU shares. BMO Capital Markets raised their target price on Canadian Utilities from C$35.50 to C$37.00 in a research report on Thursday, September 5th. CIBC upped their target price on shares of Canadian Utilities from C$34.00 to C$35.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Scotiabank raised their price target on shares of Canadian Utilities from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. National Bankshares upped their price objective on shares of Canadian Utilities from C$34.00 to C$37.00 in a research note on Friday, August 23rd. Finally, Royal Bank of Canada raised their target price on shares of Canadian Utilities from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$36.50.

Canadian Utilities Stock Performance

The firm’s 50 day moving average price is C$34.27 and its two-hundred day moving average price is C$31.94. The firm has a market cap of C$7.46 billion, a PE ratio of 17.97, a PEG ratio of 2.38 and a beta of 0.66. The company has a debt-to-equity ratio of 149.94, a quick ratio of 1.30 and a current ratio of 1.29.

Canadian Utilities (TSE:CU) last issued its quarterly earnings data on Friday, August 2nd. The company reported C$0.43 earnings per share for the quarter, topping the consensus estimate of C$0.42 by C$0.01. Canadian Utilities had a return on equity of 8.72% and a net margin of 16.43%. The company had revenue of C$860.00 million during the quarter. On average, research analysts forecast that Canadian Utilities Limited will post 2.4063556 earnings per share for the current year.

Canadian Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a $0.453 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.81 dividend on an annualized basis and a yield of 4.98%. Canadian Utilities’s payout ratio is currently 91.41%.

Canadian Utilities Company Profile

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.