Canadian Utilities (TSE:CU) Reaches New 1-Year High – Should You Buy?

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$49.48 and last traded at C$48.76, with a volume of 417637 shares changing hands. The stock had previously closed at C$49.19.

Analyst Upgrades and Downgrades

CU has been the topic of a number of recent analyst reports. Scotiabank increased their price target on shares of Canadian Utilities from C$40.00 to C$43.00 in a research note on Tuesday, December 16th. Royal Bank Of Canada boosted their price objective on shares of Canadian Utilities from C$43.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Friday, February 27th. TD Securities upped 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. Canadian Imperial Bank of Commerce increased their target price on Canadian Utilities from C$45.00 to C$47.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. Finally, National Bank Financial lifted their target price on Canadian Utilities from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a report on Friday, February 27th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Canadian Utilities currently has an average rating of “Hold” and an average target price of C$45.83.

Canadian Utilities Price Performance

The stock has a market cap of C$13.27 billion, a PE ratio of 325.07, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 194.86. The company’s fifty day moving average is C$45.60 and its 200 day moving average is C$42.18.

Canadian Utilities (TSE:CU) last released its quarterly earnings data on Thursday, February 26th. The company reported C$0.72 earnings per share (EPS) for the quarter. Canadian Utilities had a net margin of 3.22% and a return on equity of 1.74%. The company had revenue of C$971.00 million during the quarter. As a group, sell-side analysts anticipate that Canadian Utilities Limited will post 2.4063556 earnings per share for the current fiscal year.

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.