Canadian Utilities (TSE:CU) Price Target Raised to C$43.00 at Scotiabank

Canadian Utilities (TSE:CU) had its price objective increased by Scotiabank from C$40.00 to C$43.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 2.60% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. CIBC increased their price objective on shares of Canadian Utilities from C$42.00 to C$43.00 in a research note on Monday, November 10th. BMO Capital Markets upped their price target on shares of Canadian Utilities from C$42.00 to C$44.00 in a report on Monday, November 10th. Finally, TD Securities raised their price objective 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. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$42.40.

Canadian Utilities Price Performance

TSE CU traded up C$0.16 during mid-day trading on Tuesday, hitting C$41.91. The stock had a trading volume of 89,442 shares, compared to its average volume of 514,113. The company has a 50 day simple moving average of C$40.79 and a 200 day simple moving average of C$39.08. The company has a market cap of C$11.40 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 2.38 and a beta of 0.50. Canadian Utilities has a 52-week low of C$33.19 and a 52-week high of C$42.95. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34.

Canadian Utilities (TSE:CU) last posted its earnings results on Friday, November 7th. The company reported C$0.40 earnings per share 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 for the quarter. Equities analysts forecast that Canadian Utilities will post 2.4063556 EPS 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.