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

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during trading on Tuesday . The company 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.

Analyst Upgrades and Downgrades

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

Canadian Utilities Trading Up 0.6 %

The company has a debt-to-equity ratio of 149.94, a current ratio of 1.29 and a quick ratio of 1.30. The business has a 50-day simple moving average of C$34.51 and a two-hundred day simple moving average of C$32.06. The stock has a market cap of C$7.58 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 2.38 and a beta of 0.66.

Canadian Utilities (TSE:CU) last posted its earnings results on Friday, August 2nd. The company reported C$0.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of C$860.00 million for the quarter. Equities analysts forecast that Canadian Utilities Limited will post 2.4063556 EPS for the current fiscal year.

Canadian Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a $0.453 dividend. This represents a $1.81 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, November 7th. Canadian Utilities’s payout ratio 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.