Canadian Utilities (TSE:CU) Shares Pass Above 200-Day Moving Average - Should You Sell?

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) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Analysts Set New Price Targets

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

Canadian Utilities Stock Performance

The company has a market capitalization of C$10.36 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.38 and a beta of 0.57. The stock has a fifty day moving average price of C$38.31 and a two-hundred day moving average price of C$37.42. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34.

Canadian Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 7th were paid a $0.4577 dividend. 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 4.8%. Canadian Utilities's dividend payout ratio is presently 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.

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