TD Forecasts Strong Price Appreciation for Canadian Utilities (TSE:CU) Stock

Canadian Utilities (TSE:CU) had its target price increased by TD from C$52.00 to C$57.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. TD’s target price suggests a potential upside of 15.27% from the stock’s current price.

Several other equities research analysts also recently weighed in on CU. National Bank Financial increased their target price on shares of Canadian Utilities from C$51.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. BMO Capital Markets lifted their price target on shares of 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. Canadian Imperial Bank of Commerce reduced their price objective on shares of Canadian Utilities from C$55.00 to C$52.00 in a research report on Tuesday, September 22nd. Scotiabank raised their price objective on shares of 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, Royal Bank Of Canada boosted their target price on Canadian Utilities from C$50.00 to C$58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$53.86.

Canadian Utilities Price Performance

TSE:CU traded down C$0.75 during trading hours on Wednesday, reaching C$49.45. The stock had a trading volume of 526,050 shares, compared to its average volume of 583,803. The stock has a market capitalization of C$13.47 billion, a PE ratio of 309.06, a PEG ratio of 2.38 and a beta of 0.36. Canadian Utilities has a 52 week low of C$38.51 and a 52 week high of C$56.90. The company has a 50 day moving average price of C$51.98 and a two-hundred day moving average price of C$51.06. The company has a debt-to-equity ratio of 184.88, a quick ratio of 1.30 and a current ratio of 1.80.

Canadian Utilities (TSE:CU) last posted its earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share for the quarter. Canadian Utilities had a net margin of 3.30% and a return on equity of 1.88%. The firm had revenue of C$914.00 million during the quarter. As a group, sell-side analysts anticipate that Canadian Utilities will post 2.4063556 earnings per share 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. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.