Canadian Utilities (TSE:CU) Given New C$53.00 Price Target at Scotiabank

Canadian Utilities (TSE:CU) had its price target raised by Scotiabank from C$50.00 to C$53.00 in a research note released on Tuesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other analysts have also recently issued research reports about the stock. National Bank Financial lifted their price target on shares of Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Royal Bank Of Canada boosted their price objective on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce upped their price objective on shares of Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. Finally, TD raised their target price on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$49.14.

Canadian Utilities Trading Up 0.2%

TSE CU opened at C$54.38 on Tuesday. Canadian Utilities has a fifty-two week low of C$37.13 and a fifty-two week high of C$55.30. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. The stock has a 50 day simple moving average of C$51.47 and a two-hundred day simple moving average of C$48.41. The stock has a market cap of C$14.81 billion, a P/E ratio of 543.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.53.

Canadian Utilities (TSE:CU) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.89 earnings per share for the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%.The firm had revenue of C$1.08 billion for the quarter. On average, analysts forecast that Canadian Utilities will post 2.4063556 earnings per share for the current year.

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.