Canadian Utilities (TSE:CU) Hits New 12-Month High – What’s Next?

Canadian Utilities Limited (TSE:CU)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$36.29 and last traded at C$36.25, with a volume of 85943 shares. The stock had previously closed at C$35.59.

Wall Street Analysts Forecast Growth

CU has been the subject of several research reports. Scotiabank increased their price objective on Canadian Utilities from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. CIBC increased their price target on shares of Canadian Utilities from C$34.00 to C$35.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. National Bankshares boosted their price objective on shares of Canadian Utilities from C$34.00 to C$37.00 in a report on Friday, August 23rd. BMO Capital Markets increased their target price on shares of Canadian Utilities from C$35.50 to C$37.00 in a research note on Thursday, September 5th. Finally, Royal Bank of Canada lifted their target price on Canadian Utilities from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Canadian Utilities presently has an average rating of “Hold” and an average price target of C$36.50.

Canadian Utilities Trading Up 0.6 %

The company’s fifty day moving average price is C$34.51 and its two-hundred day moving average price is C$32.06. The company has a quick ratio of 1.30, a current ratio of 1.29 and a debt-to-equity ratio of 149.94. The company has a market cap of C$7.58 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66.

Canadian Utilities (TSE:CU) last announced its earnings results on Friday, August 2nd. The company reported C$0.43 EPS for the quarter, topping the consensus estimate of C$0.42 by C$0.01. Canadian Utilities had a return on equity of 8.72% and a net margin of 16.43%. The company had revenue of C$860.00 million for the quarter. Research analysts expect that Canadian Utilities Limited will post 2.4063556 earnings per share for the current year.

Canadian Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a $0.453 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.81 dividend on an annualized basis and a yield of 4.90%. Canadian Utilities’s payout ratio is 91.41%.

About Canadian Utilities

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.