Canadian Utilities (TSE:CU) Sets New 12-Month High – Time to Buy?

Canadian Utilities Limited (TSE:CU)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as C$48.75 and last traded at C$47.98, with a volume of 59307 shares traded. The stock had previously closed at C$48.26.

Analyst Ratings Changes

Several equities analysts recently issued reports on CU shares. Scotiabank boosted their price target on shares of Canadian Utilities from C$40.00 to C$43.00 in a research report on Tuesday, December 16th. BMO Capital Markets lifted their price objective on Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. TD Securities upped their target price on Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. National Bank Financial raised their target price on Canadian Utilities from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada lifted their price target on Canadian Utilities from C$43.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Friday, February 27th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$45.83.

Canadian Utilities Stock Performance

The company has a debt-to-equity ratio of 194.86, a quick ratio of 1.30 and a current ratio of 1.56. The business’s 50-day moving average is C$44.77 and its 200-day moving average is C$41.65. The company has a market capitalization of C$13.13 billion, a PE ratio of 24.64, a PEG ratio of 2.38 and a beta of 0.66.

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.