Canadian Utilities (TSE:CU) Hits New 52-Week High – Should You Buy?

Canadian Utilities Limited (TSE:CU – Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as C$51.26 and last traded at C$51.12, with a volume of 54359 shares changing hands. The stock had previously closed at C$50.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. National Bank Financial increased their price target on shares of Canadian Utilities from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. TD increased their price target on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, May 8th. TD Securities increased their price target on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada increased their price target on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Canadian Utilities presently has a consensus rating of “Hold” and a consensus target price of C$47.00.

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Canadian Utilities Price Performance

The business’s 50 day moving average is C$48.83 and its two-hundred day moving average is C$45.65. The firm has a market capitalization of C$13.77 billion, a PE ratio of 505.70, a P/E/G ratio of 2.38 and a beta of 0.60. The company has a debt-to-equity ratio of 186.03, a current ratio of 1.32 and a quick ratio of 1.30.

Canadian Utilities (TSE:CU – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share for the quarter. The business had revenue of C$1.08 billion for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. As a group, research analysts anticipate that Canadian Utilities Limited will post 2.4063556 EPS for the current year.

Canadian Utilities Company Profile

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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.

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