Royal Bank of Canada Increases Canadian Utilities (TSE:CU) Price Target to C$38.00

Canadian Utilities (TSE:CU) had its target price upped by equities researchers at Royal Bank of Canada from C$36.00 to C$38.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 6.80% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. CIBC lifted 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 research note on Tuesday, August 6th. Scotiabank raised their price objective on Canadian Utilities from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. National Bankshares raised their price objective on Canadian Utilities from C$34.00 to C$37.00 in a report on Friday, August 23rd. Finally, BMO Capital Markets lifted their price target on Canadian Utilities from C$35.50 to C$37.00 in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$36.50.

Canadian Utilities Price Performance

Canadian Utilities stock opened at C$35.58 on Thursday. The company’s fifty day moving average price is C$33.91 and its 200 day moving average price is C$31.77. Canadian Utilities has a 1 year low of C$28.32 and a 1 year high of C$36.29. The stock has a market capitalization of C$7.29 billion, a P/E ratio of 17.97, a P/E/G ratio of 2.38 and a beta of 0.65. The company has a debt-to-equity ratio of 149.94, a quick ratio of 1.30 and a current ratio of 1.29.

Canadian Utilities (TSE:CU) last released its quarterly earnings results on Friday, August 2nd. The company reported C$0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.42 by C$0.01. Canadian Utilities had a net margin of 16.43% and a return on equity of 8.72%. The firm had revenue of C$860.00 million for the quarter. As a group, equities research analysts anticipate that Canadian Utilities will post 2.39747 earnings per share for the current fiscal year.

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.