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

Canadian Utilities Limited (TSE:CU) shares reached a new 52-week high 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.

Wall Street Analyst Weigh In

CU has been the subject of several research reports. Canadian Imperial Bank of Commerce increased their price target on shares of Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. TD Securities increased their price target on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. TD increased their price target on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the company a “hold” rating in a research report on Friday, May 8th. National Bank Financial increased their price target on shares of Canadian Utilities from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. 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 company a “sector perform” rating in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Canadian Utilities presently has a consensus rating of “Hold” and an average price target of C$47.00.

Canadian Utilities Stock Performance

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

Canadian Utilities (TSE:CU) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share for the quarter. The company had revenue of C$1.08 billion during the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. Equities analysts predict that Canadian Utilities Limited will post 2.4063556 EPS for the current 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. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.