Canadian Utilities Limited (TSE:CU) to Issue Quarterly Dividend of $0.46

Canadian Utilities Limited (TSE:CU - Get Free Report) declared a quarterly dividend on Thursday, July 10th, RTT News reports. Investors 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 annualized dividend and a yield of 4.83%. This is a 1.0% increase from Canadian Utilities's previous quarterly dividend of $0.45.

Canadian Utilities Stock Performance

CU stock traded down C$0.04 during trading on Friday, hitting C$37.91. The company had a trading volume of 372,690 shares, compared to its average volume of 533,546. The firm has a market cap of C$7.75 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. Canadian Utilities has a 1-year low of C$30.07 and a 1-year high of C$38.85. The firm has a 50-day moving average price of C$37.73 and a 200-day moving average price of C$36.13. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34.

Insiders Place Their Bets

In other news, Senior Officer James Armstrong sold 1,258 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of C$37.98, for a total transaction of C$47,778.84. Following the sale, the insider owned 136 shares of the company's stock, valued at C$5,165.28. The trade was a 90.24% decrease in their position. Over the last 90 days, insiders sold 1,508 shares of company stock valued at $57,191. 37.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price target on 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. CIBC lifted their price objective on Canadian Utilities from C$38.00 to C$40.00 in a report on Friday, April 4th. Finally, TD Securities raised Canadian Utilities to a "hold" rating and set a C$40.00 price objective on the stock in a report on Friday, June 27th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$38.83.

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.