Canadian Utilities (TSE:CU) Sets New 52-Week High - Time to Buy?

Key Points

• Canadian Utilities Limited's stock reached a new **52-week high** of **C$39.41** during trading, closing at **C$39.38** with a trading volume of **29,056 shares**.
• The company announced an increase in its **quarterly dividend** to **$0.4577**, representing a **4.65% yield**, with the next payment scheduled for **September 1st**.
• Analysts have set an average price target of **C$38.83** for Canadian Utilities, with recent upgrades from various firms including Royal Bank of Canada raising its target to **C$41.00**.

Canadian Utilities Limited (TSE:CU - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as C$39.41 and last traded at C$39.38, with a volume of 29056 shares traded. The stock had previously closed at C$39.01.

Analysts Set New Price Targets

A number of research firms recently weighed in on CU. Royal Bank Of Canada increased their price objective 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. TD Securities raised shares of Canadian Utilities to a "hold" rating and set a C$40.00 price objective for the company in a research report on Friday, June 27th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$38.83.

Canadian Utilities Stock Up 0.4%

The company has a market cap of C$7.91 billion, a PE ratio of 20.93, a P/E/G ratio of 2.38 and a beta of 0.66. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34. The firm's fifty day simple moving average is C$38.11 and its 200-day simple moving average is C$36.57.

Canadian Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 7th will be given a dividend of $0.4577 per share. This is a positive change from Canadian Utilities's previous quarterly dividend of $0.45. This represents a $1.83 annualized dividend and a yield of 4.7%. 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 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 completion of the sale, the insider owned 136 shares of the company's stock, valued at C$5,165.28. This represents a 90.24% decrease in their ownership of the stock. Insiders have sold a total of 1,508 shares of company stock worth $57,191 over the last ninety days. Corporate insiders own 37.58% of the company's stock.

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.