National Bank Financial Brokers Raise Earnings Estimates for Canadian Utilities Limited (TSE:CU)

Canadian Utilities Limited (TSE:CU) – Analysts at National Bank Financial lifted their FY2024 EPS estimates for shares of Canadian Utilities in a report released on Thursday, May 2nd. National Bank Financial analyst P. Kenny now expects that the company will post earnings per share of $2.41 for the year, up from their prior estimate of $2.34. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.34 per share.

Canadian Utilities (TSE:CU) last posted its earnings results on Thursday, February 29th. The company reported C$0.71 EPS for the quarter, beating the consensus estimate of C$0.69 by C$0.02. Canadian Utilities had a return on equity of 10.08% and a net margin of 18.63%. The firm had revenue of C$974.00 million for the quarter.

Several other research firms have also recently weighed in on CU. Scotiabank decreased their target price on Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. CIBC reduced their price objective on shares of Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$35.29.

Canadian Utilities Trading Up 1.6 %

TSE:CU opened at C$30.71 on Monday. Canadian Utilities has a 1 year low of C$28.13 and a 1 year high of C$39.60. The stock has a market cap of C$6.27 billion, a P/E ratio of 13.18, a P/E/G ratio of 2.38 and a beta of 0.60. The company has a debt-to-equity ratio of 147.99, a quick ratio of 1.30 and a current ratio of 1.01. The stock has a 50-day simple moving average of C$30.55 and a 200-day simple moving average of C$30.81.

Insider Buying and Selling at Canadian Utilities

In other news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total transaction of C$1,544,530.92. 37.97% of the stock is owned by company insiders.

Canadian Utilities Announces Dividend

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 paid a $0.453 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.81 dividend on an annualized basis and a yield of 5.90%. Canadian Utilities’s dividend payout ratio is presently 77.68%.

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.