TSE:CU FY2024 EPS Forecast Lifted by National Bank Financial

Canadian Utilities Limited (TSE:CU) – Investment analysts at National Bank Financial increased their FY2024 earnings estimates for Canadian Utilities in a report issued on Sunday, November 17th. National Bank Financial analyst P. Kenny now expects that the company will earn $2.39 per share for the year, up from their prior estimate of $2.37. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.41 per share.

Several other equities analysts have also issued reports on CU. National Bankshares raised their price objective on Canadian Utilities from C$34.00 to C$37.00 in a report on Friday, August 23rd. CIBC raised 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. BMO Capital Markets boosted their price objective on Canadian Utilities from C$35.50 to C$37.00 in a research note on Thursday, September 5th. Royal Bank of Canada raised their target price on shares of Canadian Utilities from C$38.00 to C$39.00 in a research report on Friday, November 15th. Finally, Scotiabank upped their price target on shares of Canadian Utilities from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th.

Canadian Utilities Stock Down 0.8 %

Shares of TSE:CU opened at C$35.19 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.30 and a debt-to-equity ratio of 149.94. The firm has a 50 day simple moving average of C$35.49 and a 200-day simple moving average of C$32.85. The company has a market capitalization of C$7.21 billion, a PE ratio of 17.77, a P/E/G ratio of 2.38 and a beta of 0.66. Canadian Utilities has a twelve month low of C$29.15 and a twelve month high of C$37.10.

Canadian Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.453 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.81 annualized dividend and a dividend yield of 5.15%. Canadian Utilities’s payout ratio is currently 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.