Canadian Utilities (TSE:CU) Price Target Raised to C$58.00

Canadian Utilities (TSE:CU) had its price objective hoisted by TD from C$57.00 to C$58.00 in a research report sent to investors on Tuesday,BayStreet reports. The firm currently has a buy rating on the stock.

Several other research firms also recently commented on CU. TD Securities raised Canadian Utilities from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Royal Bank Of Canada dropped their price target on shares of Canadian Utilities from C$63.00 to C$62.00 and set a “sector perform” rating on the stock in a research report on Monday. National Bank Financial increased their price target on shares of Canadian Utilities from C$56.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Monday. BMO Capital Markets lifted their price objective on shares of Canadian Utilities from C$50.00 to C$55.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Finally, Scotiabank lifted their target price on 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Canadian Utilities currently has a consensus rating of “Hold” and a consensus price target of C$54.86.

Canadian Utilities Stock Performance

Shares of TSE CU opened at C$53.24 on Tuesday. The stock has a 50 day moving average price of C$50.64 and a 200 day moving average price of C$50.18. Canadian Utilities has a 52 week low of C$40.87 and a 52 week high of C$56.90. The company has a debt-to-equity ratio of 190.17, a quick ratio of 1.30 and a current ratio of 1.29. The stock has a market capitalization of C$14.50 billion, a PE ratio of 380.29, a price-to-earnings-growth ratio of 2.38 and a beta of 0.40.

Canadian Utilities (TSE:CU) last posted its quarterly earnings results on Friday, November 6th. The company reported C$0.43 earnings per share for the quarter. The firm had revenue of C$902.00 million during the quarter. Canadian Utilities had a return on equity of 1.82% and a net margin of 3.05%. Analysts predict that Canadian Utilities will post 2.41 earnings per share for the current fiscal year.

Canadian Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.4623 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, November 5th. Canadian Utilities’s dividend payout ratio is 1,317.57%.

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.