Scotiabank Trims Canadian Utilities (TSE:CU) Target Price to C$33.00

Canadian Utilities (TSE:CU) had its target price decreased by Scotiabank from C$35.00 to C$33.00 in a report issued on Monday, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Separately, CIBC dropped their price target on shares of Canadian Utilities from C$35.00 to C$34.00 and set a neutral rating for the company in a research note on Friday, April 19th. Six investment 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 presently has an average rating of Hold and a consensus price target of C$35.29.

Canadian Utilities Trading Up 0.5 %

CU opened at C$30.44 on Monday. The firm has a market capitalization of C$6.22 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.38 and a beta of 0.60. The firm’s 50 day moving average is C$30.53 and its 200-day moving average is C$30.74. Canadian Utilities has a 52-week low of C$28.13 and a 52-week high of C$39.87. The company has a quick ratio of 1.30, a current ratio of 1.01 and a debt-to-equity ratio of 147.99.

Canadian Utilities (TSE:CU) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.02. The company had revenue of C$974.00 million for the quarter. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%. Analysts expect that Canadian Utilities will post 2.3547141 EPS for the current fiscal year.

Canadian Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Thursday, May 2nd will be issued a $0.453 dividend. This represents a $1.81 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date is Wednesday, May 1st. Canadian Utilities’s dividend payout ratio is presently 77.68%.

Insider Activity

In other news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of C$30.77, for a total transaction of C$1,544,530.92. Corporate insiders own 38.21% of the company’s stock.

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.