Canadian Utilities (TSE:CU) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Canadian Utilities Limited (TSE:CU - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$35.47 and traded as high as C$37.69. Canadian Utilities shares last traded at C$37.39, with a volume of 1,248,847 shares traded.

Wall Street Analysts Forecast Growth

CU has been the subject of several recent research reports. Scotiabank raised their target price on shares of Canadian Utilities from C$37.00 to C$38.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada increased their price objective 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. Finally, CIBC lifted their target price on Canadian Utilities from C$38.00 to C$40.00 in a report on Friday, April 4th.

Canadian Utilities Stock Performance

The firm's fifty day simple moving average is C$36.98 and its 200 day simple moving average is C$35.53. The company has a market capitalization of C$7.81 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.38 and a beta of 0.66. The company has a debt-to-equity ratio of 158.34, a current ratio of 1.63 and a quick ratio of 1.30.

Insider Activity at Canadian Utilities

In other Canadian Utilities news, Senior Officer James Armstrong sold 1,258 shares of Canadian Utilities stock in a transaction dated 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 transaction, the insider now owns 136 shares of the company's stock, valued at C$5,165.28. The trade was a 90.24% decrease in their position. In the last 90 days, insiders sold 1,908 shares of company stock worth $71,135. 37.58% of the stock is owned by corporate insiders.

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.