Canadian Utilities (TSE:CU) Sets New 52-Week High Following Analyst Upgrade

Canadian Utilities Limited (TSE:CU) shares hit a new 52-week high during trading on Wednesday after CIBC raised their price target on the stock from C$34.00 to C$35.00. CIBC currently has a neutral rating on the stock. Canadian Utilities traded as high as C$33.36 and last traded at C$33.30, with a volume of 88066 shares traded. The stock had previously closed at C$32.94.

A number of other research analysts have also issued reports on the company. National Bankshares boosted their price target on Canadian Utilities from C$33.00 to C$34.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Scotiabank upped their price objective on Canadian Utilities from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a report on Monday, May 13th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$35.00.

Canadian Utilities Stock Performance

The company has a current ratio of 1.03, a quick ratio of 1.30 and a debt-to-equity ratio of 145.09. The firm has a 50-day simple moving average of C$30.72 and a two-hundred day simple moving average of C$30.74. The company has a market capitalization of C$6.87 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60.

Canadian Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.453 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Thursday, August 8th. Canadian Utilities’s dividend payout ratio is 84.58%.

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.