Canadian Utilities (TSE:CU) Stock Price Passes Above 200 Day Moving Average - Here's Why

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$32.14 and traded as high as C$36.58. Canadian Utilities shares last traded at C$36.49, with a volume of 254,118 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on CU shares. BMO Capital Markets increased their price objective on shares of Canadian Utilities from C$35.50 to C$37.00 in a research report on Thursday, September 5th. CIBC raised their price target 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. National Bankshares raised their price target on shares of Canadian Utilities from C$34.00 to C$37.00 in a report on Friday, August 23rd. Scotiabank raised 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 report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their price target on shares of Canadian Utilities from C$36.00 to C$38.00 and gave the company a "sector perform" rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of C$36.50.

Canadian Utilities Stock Down 0.5 %

The company's 50 day moving average price is C$34.73 and its two-hundred day moving average price is C$32.18. 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 stock has a market cap of C$7.44 billion, a P/E ratio of 18.34, a PEG ratio of 2.38 and a beta of 0.66.

Canadian Utilities (TSE:CU - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The company reported C$0.43 earnings per share for the quarter, topping the consensus estimate of C$0.42 by C$0.01. Canadian Utilities had a net margin of 16.43% and a return on equity of 8.72%. The firm had revenue of C$860.00 million for the quarter. Equities analysts forecast that Canadian Utilities Limited will post 2.4063556 earnings per share for the current year.

Canadian Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.453 per share. This represents a $1.81 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Thursday, November 7th. 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.