Canadian Utilities (TSE:CU) Price Target Raised to C$39.00

Canadian Utilities (TSE:CU - Free Report) had its price target raised by Royal Bank of Canada from C$38.00 to C$39.00 in a report issued on Friday,BayStreet.CA reports.

A number of other research firms have also recently issued reports on CU. National Bankshares increased their target price on Canadian Utilities from C$34.00 to C$37.00 in a research note on Friday, August 23rd. Scotiabank boosted their price objective 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. CIBC increased their target price on Canadian Utilities from C$34.00 to C$35.00 and gave the stock a "neutral" rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets boosted their price target on Canadian Utilities from C$35.50 to C$37.00 in a report on Thursday, September 5th.

Canadian Utilities Trading Up 1.7 %

CU stock traded up C$0.60 during midday trading on Friday, hitting C$34.98. 625,300 shares of the company's stock were exchanged, compared to its average volume of 505,434. Canadian Utilities has a one year low of C$29.15 and a one year high of C$37.10. The stock's fifty day moving average price is C$35.45 and its 200-day moving average price is C$32.78. The company has a market cap of C$7.17 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.453 dividend. This represents a $1.81 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Thursday, November 7th. 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.