Royal Bank Of Canada Forecasts Strong Price Appreciation for Canadian Utilities (TSE:CU) Stock

Canadian Utilities (TSE:CU) had its price objective lifted by research analysts at Royal Bank Of Canada from C$43.00 to C$49.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 3.01% from the company’s current price.

Other equities analysts have also issued reports about the company. Scotiabank lifted their price objective on Canadian Utilities from C$40.00 to C$43.00 in a research note on Tuesday, December 16th. BMO Capital Markets lifted their price target on shares of Canadian Utilities from C$42.00 to C$44.00 in a research report on Monday, November 10th. Canadian Imperial Bank of Commerce increased their price objective on shares of Canadian Utilities from C$44.00 to C$45.00 in a research report on Wednesday, January 21st. National Bank Financial raised their target price on shares of Canadian Utilities from C$40.00 to C$43.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Finally, TD Securities lifted their target price on shares of Canadian Utilities from C$40.00 to C$41.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$44.83.

Canadian Utilities Trading Up 1.7%

TSE CU opened at C$47.57 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34. The stock has a market capitalization of C$12.94 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.38 and a beta of 0.61. The firm has a 50-day moving average price of C$44.19 and a 200 day moving average price of C$41.30. Canadian Utilities has a 52-week low of C$34.10 and a 52-week high of C$48.36.

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.