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

Canadian Utilities logo with Utilities background

Key Points

  • Canadian Utilities' stock price has recently crossed above its 200-day moving average, trading as high as C$38.97, which indicates a potential upward trend.
  • TD Securities has upgraded the stock to a "hold" rating with a price target of C$40.00, while analysts have a consensus rating of "Hold" with an average target price of C$39.75.
  • The company has declared an increase in its quarterly dividend to $0.4577, reflecting a 4.7% yield, despite a high dividend payout ratio of 111.07%.
  • MarketBeat previews the top five stocks to own by November 1st.

Canadian Utilities Limited (TSE:CU - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$37.69 and traded as high as C$38.97. Canadian Utilities shares last traded at C$38.93, with a volume of 361,387 shares trading hands.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on Canadian Utilities

Canadian Utilities Trading Up 1.1%

The company has a market capitalization of C$10.58 billion, a P/E ratio of 23.74, a P/E/G ratio of 2.38 and a beta of 0.57. The stock's 50 day moving average is C$38.26 and its 200-day moving average is C$37.69. The company has a debt-to-equity ratio of 158.34, a current ratio of 1.63 and a quick ratio of 1.30.

Canadian Utilities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 7th were paid a $0.4577 dividend. This is an increase from Canadian Utilities's previous quarterly dividend of $0.45. This represents a $1.83 dividend on an annualized basis and a yield of 4.7%. Canadian Utilities's dividend payout ratio is presently 111.07%.

Canadian Utilities Company Profile

(Get Free Report)

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.

See Also

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