Canadian Utilities (TSE:CU) PT Lowered to C$33.00 at Scotiabank

Canadian Utilities (TSE:CU) had its price objective reduced by Scotiabank from C$35.00 to C$33.00 in a research note released on Monday, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Separately, CIBC dropped their price target on Canadian Utilities from C$35.00 to C$34.00 and set a neutral rating on the stock in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of C$35.29.

Canadian Utilities Stock Performance

Shares of Canadian Utilities stock opened at C$30.64 on Monday. The business’s fifty day simple moving average is C$30.54 and its 200 day simple moving average is C$30.74. The firm has a market capitalization of C$6.26 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60. Canadian Utilities has a 12 month low of C$28.13 and a 12 month high of C$39.87. The company has a current ratio of 1.01, a quick ratio of 1.30 and a debt-to-equity ratio of 147.99.

Canadian Utilities (TSE:CU) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.71 EPS for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.02. The business 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%. As a group, analysts anticipate that Canadian Utilities will post 2.3547141 EPS for the current year.

Canadian Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Thursday, May 2nd will be given a $0.453 dividend. This represents a $1.81 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Wednesday, May 1st. Canadian Utilities’s dividend payout ratio is currently 77.68%.

Insiders Place Their Bets

In other news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of Canadian Utilities stock in a transaction on Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total value of C$1,544,530.92. Company 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.