Canadian Utilities (TSE:CU) Shares Cross Above 200 Day Moving Average - Here's Why

Canadian Utilities Limited (TSE:CU - Get Free Report)'s share price passed 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

A number of research analysts recently issued reports on CU shares. TD Securities upgraded Canadian Utilities to a "hold" rating and set a C$40.00 price objective for the company in a report on Friday, June 27th. CIBC raised their price target on shares of Canadian Utilities from C$38.00 to C$40.00 in a research note on Friday, April 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of Canadian Utilities from C$39.00 to C$41.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Canadian Utilities currently has an average rating of "Hold" and a consensus price target of C$38.83.

Canadian Utilities Trading Down 0.4%

The stock has a market capitalization of C$7.79 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. The business has a fifty day simple moving average of C$37.75 and a 200 day simple moving average of C$36.19. The company has a debt-to-equity ratio of 158.34, a quick ratio of 1.30 and a current ratio of 1.63.

Canadian Utilities Increases Dividend

The firm 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 represents a $1.83 dividend on an annualized basis and a dividend yield of 4.80%. This is a boost from Canadian Utilities's previous quarterly dividend of $0.45. Canadian Utilities's payout ratio is 97.79%.

Insider Buying and Selling at Canadian Utilities

In other Canadian Utilities news, Senior Officer James Armstrong sold 1,258 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of C$37.98, for a total value of C$47,778.84. Following the completion of the transaction, the insider directly owned 136 shares in the company, valued at approximately C$5,165.28. This trade represents a 90.24% decrease in their ownership of the stock. In the last 90 days, insiders have sold 1,508 shares of company stock valued at $57,191. Company insiders own 37.58% of the company's stock.

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.