Canadian Utilities (TSE:CU – Free Report) had its price target cut by Scotiabank from C$35.00 to C$33.00 in a research report report published on Monday, BayStreet.CA reports. They currently have a sector perform rating on the stock.
Separately, CIBC cut their price target on Canadian Utilities from C$35.00 to C$34.00 and set a neutral rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Utilities presently has a consensus rating of Hold and an average price target of C$35.29.
Get Our Latest Report on Canadian Utilities
Canadian Utilities Price Performance
Canadian Utilities (TSE:CU – Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$0.71 EPS for the quarter, beating the consensus estimate of C$0.69 by C$0.02. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%. The firm had revenue of C$974.00 million for the quarter. As a group, research analysts forecast that Canadian Utilities will post 2.3547141 earnings per share for the current fiscal year.
Canadian Utilities Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Thursday, May 2nd will be paid a $0.453 dividend. This represents a $1.81 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date is Wednesday, May 1st. Canadian Utilities’s dividend payout ratio (DPR) is presently 77.68%.
Insider Transactions at Canadian Utilities
In other news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total transaction of C$1,544,530.92. 38.21% of the stock is currently owned by company insiders.
Canadian Utilities Company Profile
Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.
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