Canadian Utilities Limited (TSE:CU – Get Free Report)’s stock price reached a new 52-week high during trading on Wednesday after CIBC raised their price target on the stock from C$34.00 to C$35.00. CIBC currently has a neutral rating on the stock. Canadian Utilities traded as high as C$33.36 and last traded at C$33.30, with a volume of 88066 shares changing hands. The stock had previously closed at C$32.94.
A number of other equities research analysts have also recently commented on the stock. National Bankshares increased their price target on shares of Canadian Utilities from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a report on Tuesday. Scotiabank increased their price target on shares of Canadian Utilities from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a report on Monday, May 13th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Canadian Utilities has a consensus rating of “Hold” and an average price target of C$35.00.
View Our Latest Report on Canadian Utilities
Canadian Utilities Stock Up 1.9 %
Canadian Utilities Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 8th will be given a $0.453 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.81 annualized dividend and a yield of 5.40%. Canadian Utilities’s payout ratio is presently 84.58%.
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.
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