Canadian Utilities (TSE:CU) Stock Price Passes Above 200 Day Moving Average - What's Next?

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$36.18 and traded as high as C$38.35. Canadian Utilities shares last traded at C$38.23, with a volume of 504,023 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Securities raised Canadian Utilities to a "hold" rating and set a C$40.00 price objective for the company in a report on Friday, June 27th. Royal Bank Of Canada boosted their price objective 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. Finally, CIBC boosted their price objective on Canadian Utilities from C$38.00 to C$40.00 in a report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$38.83.

Canadian Utilities Stock Performance

The business has a fifty day simple moving average of C$37.79 and a 200-day simple moving average of C$36.24. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34. The firm has a market cap of C$7.84 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.38 and a beta of 0.66.

Canadian Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.4577 per share. This is an increase from Canadian Utilities's previous quarterly dividend of $0.45. This represents a $1.83 annualized dividend and a dividend yield of 4.77%. Canadian Utilities's dividend payout ratio (DPR) is presently 97.79%.

Insider Buying and Selling at Canadian Utilities

In other news, Senior Officer James Armstrong sold 1,258 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of C$37.98, for a total transaction of C$47,778.84. Following the completion of the transaction, the insider directly owned 136 shares in the company, valued at C$5,165.28. This trade represents a 90.24% decrease in their ownership of the stock. Insiders sold 1,508 shares of company stock worth $57,191 in the last ninety days. 37.58% of the stock is owned by company insiders.

Canadian Utilities Company Profile

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.