Canadian Utilities (TSE:CU) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Canadian Utilities shares have surpassed their 200-day moving average, indicating a potential upward trend in stock performance, with the stock currently trading at C$38.07.
• Analysts have raised their price targets for Canadian Utilities, with the Royal Bank of Canada setting a new target of C$41.00 and a consensus rating of "Hold" among research analysts.
• The company has announced an increase in its quarterly dividend to $0.4577, reflecting a dividend yield of 4.8%, despite a payout ratio of 111.07%.

Canadian Utilities Limited (TSE:CU - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$37.26 and traded as high as C$38.23. Canadian Utilities shares last traded at C$38.07, with a volume of 538,251 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD Securities raised Canadian Utilities to a "hold" rating and set a C$40.00 price target on the stock in a report on Friday, June 27th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Canadian Utilities presently has an average rating of "Hold" and a consensus price target of C$39.75.

Canadian Utilities Stock Performance

The stock has a market cap of C$10.35 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 2.38 and a beta of 0.57. The company's 50-day simple moving average is C$38.27 and its 200-day simple moving average is C$37.36. 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 business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 7th were given a dividend of $0.4577 per share. This is a positive change from Canadian Utilities's previous quarterly dividend of $0.45. This represents a $1.83 dividend on an annualized basis and a dividend yield of 4.8%. Canadian Utilities's payout ratio is 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.