Canadian Utilities Limited (TSE:CU) Plans Dividend Increase - $0.46 Per Share

Canadian Utilities Limited (TSE:CU - Get Free Report) declared a quarterly dividend on Thursday, July 10th, RTT News reports. Stockholders of record on Thursday, August 7th will be paid a dividend of 0.4577 per share on Monday, September 1st. This represents a $1.83 dividend on an annualized basis and a dividend yield of 4.82%. This is a 1.0% increase from Canadian Utilities's previous quarterly dividend of $0.45.

Canadian Utilities Price Performance

Shares of CU traded up C$0.09 during trading hours on Thursday, hitting C$37.95. The stock had a trading volume of 841,438 shares, compared to its average volume of 534,765. The company's fifty day moving average is C$37.72 and its two-hundred day moving average is C$36.08. The company has a debt-to-equity ratio of 158.34, a current ratio of 1.63 and a quick ratio of 1.30. Canadian Utilities has a 52 week low of C$30.07 and a 52 week high of C$38.85. The stock has a market capitalization of C$7.75 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.38 and a beta of 0.66.

Insider Transactions at Canadian Utilities

In other news, Senior Officer James Armstrong sold 1,258 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of C$37.98, for a total value of C$47,778.84. Following the sale, the insider directly owned 136 shares in the company, valued at approximately C$5,165.28. This trade represents a 90.24% decrease in their position. Insiders have sold 1,508 shares of company stock worth $57,191 in the last 90 days. Corporate insiders own 37.58% of the company's stock.

Wall Street Analyst Weigh In

CU has been the subject of several research reports. Royal Bank Of Canada raised their price objective on shares of Canadian Utilities from C$39.00 to C$41.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. TD Securities raised shares of Canadian Utilities to a "hold" rating and set a C$40.00 target price on the stock in a research note on Friday, June 27th. Finally, CIBC raised their target price on shares of Canadian Utilities from C$38.00 to C$40.00 in a research note on Friday, April 4th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Canadian Utilities currently has a consensus rating of "Hold" and an average price target of C$38.83.

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.

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