Canadian Utilities (TSE:CU) Price Target Raised to C$57.00

Canadian Utilities (TSE:CU) had its price objective upped by National Bank Financial from C$56.00 to C$57.00 in a report released on Monday morning,BayStreet reports. National Bank Financial currently has a sector perform rating on the stock.

Several other equities research analysts have also recently issued reports on CU. Canadian Imperial Bank of Commerce decreased their price target on shares of Canadian Utilities from C$55.00 to C$52.00 in a research note on Tuesday, September 22nd. Scotiabank lifted their price target on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Royal Bank Of Canada cut their price objective on shares of Canadian Utilities from C$63.00 to C$62.00 and set a “sector perform” rating for the company in a research report on Monday. TD Securities raised shares of Canadian Utilities from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Finally, TD upped their price objective on shares of Canadian Utilities from C$52.00 to C$57.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Canadian Utilities currently has an average rating of “Hold” and an average price target of C$54.86.

Canadian Utilities Stock Down 0.2%

CU opened at C$52.78 on Monday. The firm has a market cap of C$14.38 billion, a P/E ratio of 377.00, a PEG ratio of 2.38 and a beta of 0.40. The business’s fifty day simple moving average is C$50.58 and its 200 day simple moving average is C$50.14. Canadian Utilities has a 52 week low of C$40.87 and a 52 week high of C$56.90. The company has a quick ratio of 1.30, a current ratio of 1.80 and a debt-to-equity ratio of 184.88.

Canadian Utilities (TSE:CU) last announced its earnings results on Friday, November 6th. The company reported C$0.43 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$902.00 million during the quarter. As a group, equities research analysts anticipate that Canadian Utilities will post 2.41 EPS for the current fiscal year.

Canadian Utilities Dividend Announcement

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

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.