National Bank Financial Forecasts Strong Price Appreciation for Canadian Utilities (TSE:CU) Stock

Canadian Utilities (TSE:CU) had its price target hoisted by investment analysts at National Bank Financial from C$45.00 to C$46.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price objective would indicate a potential downside of 4.56% from the company’s previous close.

Several other analysts have also recently commented on CU. Royal Bank Of Canada boosted their price target on Canadian Utilities from C$43.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Friday, February 27th. TD Securities boosted their price target on Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$47.00.

Canadian Utilities Stock Up 0.6%

Shares of CU opened at C$48.20 on Thursday. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. Canadian Utilities has a one year low of C$36.23 and a one year high of C$51.05. The stock has a market capitalization of C$13.13 billion, a price-to-earnings ratio of 482.00, a PEG ratio of 2.38 and a beta of 0.60. The stock has a 50 day moving average price of C$48.53 and a 200 day moving average price of C$44.72.

Canadian Utilities (TSE:CU) last issued its quarterly earnings results 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 firm had revenue of C$1.08 billion during the quarter. Equities research analysts forecast that Canadian Utilities 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.