Canadian Utilities (TSE:CU) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Canadian Utilities shares recently crossed above their 200-day moving average of C$37.42, reaching a trading high of C$38.17.
• TD Securities upgraded the stock to a "hold" rating with a target price set at C$40.00, while the company's average target price is C$39.75.
• The firm increased its quarterly dividend to $0.4577, resulting in an annual yield of 4.8%, despite a high dividend payout ratio of 111.07%.

Canadian Utilities Limited (TSE:CU - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$37.42 and traded as high as C$38.17. Canadian Utilities shares last traded at C$38.12, with a volume of 164,080 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD Securities upgraded shares of Canadian Utilities to a "hold" rating and set a C$40.00 price objective on the stock in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Canadian Utilities has an average rating of "Hold" and an average target price of C$39.75.

Canadian Utilities Price Performance

The company has a debt-to-equity ratio of 158.34, a quick ratio of 1.30 and a current ratio of 1.63. The company's 50 day moving average price is C$38.29 and its 200 day moving average price is C$37.50. The company has a market cap of C$10.11 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 2.38 and a beta of 0.57.

Canadian Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.4577 per share. This is a boost from Canadian Utilities's previous quarterly dividend of $0.45. This represents a $1.83 annualized dividend and a yield of 4.9%. Canadian Utilities's payout ratio is currently 111.07%.

Canadian Utilities Company Profile

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company's main divisions include electricity (generation, transmission, and distribution), pipelines & liquid (natural gas and water), and Retail Energy. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States and Mexico.