Canadian Utilities (TSE:CU) Shares Cross Above 200-Day Moving Average - What's Next?

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$35.93 and traded as high as C$37.58. Canadian Utilities shares last traded at C$37.40, with a volume of 401,061 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CU shares. CIBC upped their target price on Canadian Utilities from C$38.00 to C$40.00 in a report on Friday, April 4th. Royal Bank Of Canada upped 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 note on Thursday, May 8th. Finally, TD Securities set a C$40.00 target price on Canadian Utilities and gave the company a "hold" rating in a research report on Friday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of C$38.83.

Canadian Utilities Price Performance

The business's 50-day simple moving average is C$37.76 and its 200 day simple moving average is C$35.93. 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 has a market capitalization of C$7.64 billion, a P/E ratio of 20.21, a PEG ratio of 2.38 and a beta of 0.66.

Insider Activity at Canadian Utilities

In other Canadian Utilities news, Senior Officer James Armstrong sold 1,258 shares of the company's stock in a transaction on 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 directly owns 136 shares in the company, valued at approximately C$5,165.28. This represents a 90.24% decrease in their position. In the last 90 days, insiders have sold 1,508 shares of company stock worth $57,191. Company 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.

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