Canadian Utilities (TSE:CU) Issues Earnings Results

Posted by Brian Himes on Nov 8th, 2026

Canadian Utilities (TSE:CU – Get Free Report) released its quarterly earnings results on Friday. The company reported C$0.43 earnings per share (EPS) for the quarter, FiscalAI reports. Canadian Utilities had a net margin of 3.30% and a return on equity of 1.88%. The firm had revenue of C$902.00 million for the quarter.

Here are the key takeaways from Canadian Utilities’ conference call:

Canadian Utilities reported Q3 adjusted earnings of CAD 117 million, up from CAD 108 million year over year, with growth at ATCO Energy Systems and ATCO Australia. Operating cash flow rose CAD 58 million; ATCO EnPower earnings were lower due to reduced carbon pricing and turbine-availability compensation.
The proposed Emera merger is expected to increase Canadian Utilities shareholders’ dividend by approximately 20% upon closing and combine the companies into a larger, more diversified utility. Management highlighted added capital access and expertise for potential large transmission interties and gas-fired generation; the transaction remains subject to approvals.
The company is executing a CAD 12 billion five-year capital program, including the CAD 2.9 billion Yellowhead Pipeline, where construction began in August and the in-service target remains Q4 2027. Management sees potential for additional Alberta investment beyond the current plan, though those opportunities are not yet included in its outlook.
Management reported improved year-over-year reliability across Alberta distribution utilities and cited a track record of cost efficiencies and returns above approved levels. Natural gas storage expansions are also progressing, with completed and planned projects expected to lift capacity by 10% to about 130 petajoules.

Canadian Utilities Stock Down 0.9%

Shares of TSE:CU opened at C$52.19 on Friday. The firm has a market cap of C$14.21 billion, a PE ratio of 326.19, a price-to-earnings-growth ratio of 2.38 and a beta of 0.40. The company has a fifty day simple moving average of C$50.53 and a 200 day simple moving average of C$50.00. The company has a current ratio of 1.80, a quick ratio of 1.30 and a debt-to-equity ratio of 184.88. Canadian Utilities has a 12-month low of C$39.95 and a 12-month high of C$56.90.

Canadian Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, December 1st will be paid a $0.4623 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, November 5th. Canadian Utilities’s payout ratio is 1,150.00%.

Analysts Set New Price Targets

CU has been the subject of a number of analyst reports. National Bank Financial upped their price objective on shares of Canadian Utilities from C$55.00 to C$56.00 and gave the company a “sector perform” rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised their target price on Canadian Utilities from C$58.00 to C$63.00 and gave the company a “sector perform” rating in a research note on Thursday, October 8th. TD lifted their target price on Canadian Utilities from C$52.00 to C$57.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Scotiabank boosted their price target on Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Finally, BMO Capital Markets boosted their price target on Canadian Utilities from C$50.00 to C$55.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$54.71.

Read Our Latest Stock Analysis on CU

About Canadian Utilities

(Get Free Report)

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.