Royal Bank of Canada Raises Canadian Utilities (TSE:CU) Price Target to C$39.00

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

Several other equities research analysts have also commented on CU. BMO Capital Markets boosted their target price on shares of Canadian Utilities from C$35.50 to C$37.00 in a research report on Thursday, September 5th. National Bankshares lifted their price target on shares of Canadian Utilities from C$34.00 to C$37.00 in a research report on Friday, August 23rd. CIBC boosted their price target on Canadian Utilities from C$34.00 to C$35.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, Scotiabank raised their price objective on Canadian Utilities from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th.

Canadian Utilities Stock Performance

CU stock opened at C$35.07 on Friday. Canadian Utilities has a one year low of C$29.15 and a one year high of C$37.10. The stock has a fifty day moving average price of C$35.45. The firm has a market cap of C$7.19 billion, a PE ratio of 17.67, a PEG ratio of 2.38 and a beta of 0.66. The company has a debt-to-equity ratio of 149.94, a current ratio of 1.29 and a quick ratio of 1.30.

Canadian Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a $0.453 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.81 annualized dividend and a dividend yield of 5.17%. Canadian Utilities’s dividend payout ratio is presently 91.41%.

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.