Canadian Utilities (TSE:CU) Sets New 12-Month High – Should You Buy?

Canadian Utilities Limited (TSE:CU)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$45.22 and last traded at C$45.09, with a volume of 93620 shares trading hands. The stock had previously closed at C$44.65.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. National Bank Financial upped their price objective on shares of Canadian Utilities from C$40.00 to C$43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. TD Securities boosted their target price on shares of Canadian Utilities from C$40.00 to C$41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Canadian Imperial Bank of Commerce lifted their price objective on Canadian Utilities from C$44.00 to C$45.00 in a report on Wednesday, January 21st. Scotiabank lifted their price target on Canadian Utilities from C$40.00 to C$43.00 in a research note on Tuesday, December 16th. Finally, BMO Capital Markets increased their price objective on Canadian Utilities from C$42.00 to C$44.00 in a research note on Monday, November 10th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$42.83.

Canadian Utilities Stock Up 2.5%

The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34. The firm has a market capitalization of C$12.44 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 2.38 and a beta of 0.61. The business has a 50-day moving average price of C$42.97 and a 200-day moving average price of C$40.61.

Canadian Utilities (TSE:CU) last issued its earnings results on Friday, November 7th. The company reported C$0.40 earnings per share (EPS) for the quarter. Canadian Utilities had a return on equity of 7.21% and a net margin of 13.41%.The company had revenue of C$792.00 million during the quarter. Equities research analysts forecast that Canadian Utilities Limited will post 2.4063556 earnings per share for the current fiscal year.

About Canadian Utilities

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.