Canadian Utilities (TSE:CU) Sets New 1-Year High - Here's What Happened

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$39.11 and last traded at C$38.87, with a volume of 102046 shares traded. The stock had previously closed at C$38.56.

Analyst Upgrades and Downgrades

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

Canadian Utilities Stock Up 0.5%

The company has a current ratio of 1.63, a quick ratio of 1.30 and a debt-to-equity ratio of 158.34. The stock's 50-day moving average is C$37.91 and its 200-day moving average is C$36.32. The stock has a market cap of C$7.95 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66.

Canadian Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 7th will be given a $0.4577 dividend. This represents a $1.83 dividend on an annualized basis and a dividend yield of 4.70%. This is a positive change from Canadian Utilities's previous quarterly dividend of $0.45. Canadian Utilities's dividend payout ratio is 97.79%.

Insider Buying and Selling

In other news, Senior Officer James Armstrong sold 1,258 shares of the firm's stock in a transaction 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 owned 136 shares in the company, valued at approximately C$5,165.28. This trade represents a 90.24% decrease in their ownership of the stock. Insiders sold a total of 1,508 shares of company stock worth $57,191 in the last 90 days. Company insiders own 37.58% of the company's stock.

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.