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

Key Points

• Shares of Canadian Utilities (TSE:CU) recently fell below their 200-day moving average, with the stock trading as low as C$37.38.
• TD Securities upgraded Canadian Utilities to a "hold" rating with a price target of C$40.00, while the consensus price target stands at C$39.75.
• The company increased its quarterly dividend to $0.4577 per share, translating to an annual yield of 4.9%.

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$37.56 and traded as low as C$37.38. Canadian Utilities shares last traded at C$37.69, with a volume of 332,949 shares traded.

Analysts Set New Price Targets

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

Canadian Utilities Stock Up 1.0%

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 stock has a market capitalization of C$10.25 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 2.38 and a beta of 0.57. The stock's fifty day simple moving average is C$38.26 and its two-hundred day simple moving average is C$37.56.

Canadian Utilities Increases Dividend

The firm also recently announced 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 represents a $1.83 dividend on an annualized basis and a yield of 4.9%. This is a positive change from Canadian Utilities's previous quarterly dividend of $0.45. Canadian Utilities's payout ratio is presently 111.07%.

About Canadian Utilities

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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