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

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$44.93 and last traded at C$44.84, with a volume of 73844 shares. The stock had previously closed at C$44.30.

Analysts Set New Price Targets

Several research analysts have commented on CU shares. National Bankshares upped their target price 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. Scotiabank boosted their price target on Canadian Utilities from C$40.00 to C$43.00 in a research note on Tuesday, December 16th. CIBC upped their target price on shares of Canadian Utilities from C$44.00 to C$45.00 in a research note on Wednesday, January 21st. BMO Capital Markets lifted their target price on Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. Finally, TD Securities upped their price target on Canadian Utilities from C$40.00 to C$41.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$42.83.

Canadian Utilities Trading Up 1.3%

The company has a debt-to-equity ratio of 158.34, a quick ratio of 1.30 and a current ratio of 1.63. The stock has a market cap of C$12.20 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.38 and a beta of 0.61. The company has a 50-day simple moving average of C$42.71 and a 200-day simple moving average of C$40.40.

Canadian Utilities (TSE:CU) last posted its quarterly earnings data on Friday, November 7th. The company reported C$0.40 earnings per share for the quarter. Canadian Utilities had a net margin of 13.41% and a return on equity of 7.21%. The firm had revenue of C$792.00 million during the quarter. On average, sell-side analysts forecast that Canadian Utilities Limited will post 2.4063556 EPS 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.