Canadian Utilities (TSE:CU) PT Lowered to C$34.00

Canadian Utilities (TSE:CU) had its target price cut by CIBC from C$35.00 to C$34.00 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a neutral rating on the stock.

Canadian Utilities Price Performance

TSE CU opened at C$30.20 on Friday. The stock has a market capitalization of C$6.17 billion, a P/E ratio of 12.96, a P/E/G ratio of 2.38 and a beta of 0.60. Canadian Utilities has a 1 year low of C$28.13 and a 1 year high of C$39.87. The business’s fifty day moving average is C$30.51 and its two-hundred day moving average is C$30.73. The company has a debt-to-equity ratio of 147.99, a quick ratio of 1.30 and a current ratio of 1.01.

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

Canadian Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Thursday, May 2nd will be given a dividend of $0.453 per share. This represents a $1.81 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Wednesday, May 1st. Canadian Utilities’s payout ratio is 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. 38.21% of the stock is currently owned by corporate insiders.

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.