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

Key Points

• Canadian Utilities Limited's stock recently surpassed its 200-day moving average, trading at C$38.04 with a volume of 472,489 shares.
• The company announced an increase in its quarterly dividend to $0.4577, reflecting a 4.8% yield, scheduled for payout on September 1.
• Analyst ratings show a consensus of "Hold," with target prices varying from C$39.00 to C$41.00, indicating moderate expectations for the stock's performance.

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$37.09 and traded as high as C$38.18. Canadian Utilities shares last traded at C$38.04, with a volume of 472,489 shares traded.

Analyst Ratings Changes

CU has been the topic of several research reports. Royal Bank Of Canada lifted their target price on Canadian Utilities from C$39.00 to C$41.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. TD Securities raised Canadian Utilities to a "hold" rating and set a C$40.00 target price on the stock in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Canadian Utilities currently has an average rating of "Hold" and an average target price of C$39.20.

Canadian Utilities Price Performance

The stock's fifty day moving average price is C$38.20 and its two-hundred day moving average price is C$37.09. The firm has a market capitalization of C$7.77 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. The company has a current ratio of 1.63, a quick ratio of 1.30 and a debt-to-equity ratio of 158.34.

Canadian Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 7th will be issued a $0.4577 dividend. This represents a $1.83 dividend on an annualized basis and a dividend yield of 4.8%. This is a positive change from Canadian Utilities's previous quarterly dividend of $0.45. Canadian Utilities's dividend payout ratio (DPR) is presently 97.79%.

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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