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

Canadian Utilities (TSE:CU) had its price objective hoisted by Royal Bank of Canada from C$38.00 to C$39.00 in a report issued on Friday morning,BayStreet.CA reports.

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

Canadian Utilities Stock Up 1.7 %

Shares of Canadian Utilities stock traded up C$0.60 during trading on Friday, reaching C$34.98. The company’s stock had a trading volume of 625,300 shares, compared to its average volume of 505,434. Canadian Utilities has a 1-year low of C$29.15 and a 1-year high of C$37.10. The company has a 50-day simple moving average of C$35.45 and a two-hundred day simple moving average of C$32.78. The company has a quick ratio of 1.30, a current ratio of 1.29 and a debt-to-equity ratio of 149.94. The company has a market cap of C$7.17 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 2.38 and a beta of 0.66.

Canadian Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.453 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.18%. Canadian Utilities’s dividend payout ratio is currently 91.41%.

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.