Canadian Utilities (TSE:CU) Sets New 1-Year High at $36.29

Canadian Utilities Limited (TSE:CU)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$36.29 and last traded at C$36.13, with a volume of 127773 shares traded. The stock had previously closed at C$36.02.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CU shares. CIBC raised their target price on Canadian Utilities from C$34.00 to C$35.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. BMO Capital Markets raised their target price on Canadian Utilities from C$35.50 to C$37.00 in a research report on Thursday, September 5th. National Bankshares raised their target price on Canadian Utilities from C$34.00 to C$37.00 in a research report on Friday, August 23rd. Finally, Scotiabank raised their target price on Canadian Utilities from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th.

Canadian Utilities Price Performance

The stock has a market capitalization of C$7.41 billion, a PE ratio of 18.22, a PEG ratio of 2.38 and a beta of 0.65. The business has a fifty day moving average price of C$33.61 and a 200-day moving average price of C$31.66. The company has a current ratio of 1.29, a quick ratio of 1.30 and a debt-to-equity ratio of 149.94.

Canadian Utilities (TSE:CU) last issued its earnings results on Friday, August 2nd. The company reported C$0.43 earnings per share for the quarter, beating the consensus estimate of C$0.42 by C$0.01. The company had revenue of C$860.00 million during the quarter. Canadian Utilities had a return on equity of 8.72% and a net margin of 16.43%. Research analysts expect that Canadian Utilities Limited will post 2.39747 EPS for the current fiscal year.

Canadian Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 8th were issued a $0.453 dividend. This represents a $1.81 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend was Thursday, August 8th. Canadian Utilities’s dividend payout ratio (DPR) is currently 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.