Royal Bank of Canada Raises Canadian Utilities (TSE:CU) Price Target to C$39.00

Canadian Utilities (TSE:CU) had its price objective boosted by Royal Bank of Canada from C$38.00 to C$39.00 in a report published on Friday morning,BayStreet.CA reports.

Several other equities analysts have also commented on CU. CIBC upped their price target on Canadian Utilities from C$34.00 to C$35.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. BMO Capital Markets upped their target price on shares of Canadian Utilities from C$35.50 to C$37.00 in a research report on Thursday, September 5th. Scotiabank lifted their price target on shares of 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. Finally, National Bankshares boosted their price target on shares of Canadian Utilities from C$34.00 to C$37.00 in a research note on Friday, August 23rd.

Canadian Utilities Stock Up 0.3 %

Shares of CU opened at C$35.07 on Friday. Canadian Utilities has a 52-week low of C$29.15 and a 52-week high of C$37.10. 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 business has a fifty day moving average of C$35.45. The firm has a market cap of C$7.19 billion, a P/E ratio of 17.67, a PEG ratio of 2.38 and a beta of 0.66.

Canadian Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 5.17%. Canadian Utilities’s dividend payout ratio (DPR) is presently 91.41%.

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.