Canadian Utilities (TSE:CU) Stock Price Passes Above 200-Day Moving Average - Here's Why

Canadian Utilities Limited (TSE:CU - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

A number of research firms have weighed in on CU. Royal Bank of Canada lifted their price objective on Canadian Utilities from C$39.00 to C$41.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. CIBC boosted their target price on Canadian Utilities from C$38.00 to C$40.00 in a report on Friday, April 4th. Finally, Scotiabank boosted their target price on 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.

Canadian Utilities Price Performance

The business has a 50-day simple moving average of C$36.98 and a 200 day simple moving average of C$35.52. The stock has a market cap of C$7.78 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. The company has a current ratio of 1.63, a quick ratio of 1.30 and a debt-to-equity ratio of 158.34.

Insider Buying and Selling

In other news, Senior Officer James Armstrong sold 1,258 shares of the business's stock in a transaction dated Friday, May 9th. The stock was 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 now owns 136 shares of the company's stock, valued at approximately C$5,165.28. The trade was a 90.24% decrease in their position. Over the last three months, insiders have sold 1,908 shares of company stock worth $71,135. 37.58% of the stock is owned by company insiders.

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.