Canadian Utilities (TSE:CU) Price Target Cut to C$36.00

Canadian Utilities (TSE:CU) had its target price cut by Royal Bank of Canada from C$40.00 to C$36.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research firms also recently issued reports on CU. TD Securities cut their price objective on shares of Canadian Utilities from C$39.00 to C$37.00 and set a hold rating on the stock in a report on Friday, July 28th. CSFB dropped their price target on Canadian Utilities from C$40.50 to C$40.00 and set a neutral rating on the stock in a research report on Monday, July 24th. BMO Capital Markets reduced their price objective on shares of Canadian Utilities from C$38.00 to C$37.00 and set a market perform rating for the company in a research note on Friday, September 8th. Finally, CIBC decreased their target price on shares of Canadian Utilities from C$40.00 to C$38.00 and set a neutral rating on the stock in a report on Friday, July 21st. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of C$38.25.

Canadian Utilities Price Performance

Shares of CU opened at C$31.48 on Monday. Canadian Utilities has a 12-month low of C$30.64 and a 12-month high of C$40.68. The company has a quick ratio of 1.30, a current ratio of 1.43 and a debt-to-equity ratio of 142.91. The stock has a market cap of C$6.35 billion, a PE ratio of 14.92, a PEG ratio of 2.38 and a beta of 0.57. The business has a 50-day simple moving average of C$32.54 and a two-hundred day simple moving average of C$35.36.

Canadian Utilities (TSE:CU) last issued its earnings results on Thursday, July 27th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.43 by C($0.06). The company had revenue of C$879.00 million for the quarter. Canadian Utilities had a return on equity of 9.33% and a net margin of 16.21%. Analysts anticipate that Canadian Utilities will post 2.2744526 earnings per share for the current fiscal year.

Canadian Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 2nd will be paid a $0.449 dividend. The ex-dividend date is Wednesday, November 1st. This represents a $1.80 dividend on an annualized basis and a yield of 5.71%. Canadian Utilities’s dividend payout ratio is presently 84.83%.

Canadian Utilities Company Profile

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, and retail energy businesses in the United States, Australia, and internationally. It operates through Utilities, Energy Infrastructure, and Corporate & Other segments. The Utilities segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, and the Northwest Territories; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.