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

Key Points

• Canadian Utilities Limited's stock price has recently crossed above its 200-day moving average, reaching a high of C$38.27 and settling at C$38.12.
• The company has increased its quarterly dividend from $0.45 to $0.4577, resulting in a 4.8% yield and a payout ratio of 97.79%.
• Analysts maintain a consensus rating of "Hold" for the stock, with price targets ranging from C$39.00 to C$41.00.

Canadian Utilities Limited (TSE:CU - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$36.93 and traded as high as C$38.27. Canadian Utilities shares last traded at C$38.12, with a volume of 401,181 shares traded.

Analyst Ratings Changes

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

Canadian Utilities Price Performance

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 company's fifty day moving average price is C$38.20 and its 200 day moving average price is C$37.08. The company has a market capitalization of C$7.79 billion, a P/E ratio of 20.60, a PEG ratio of 2.38 and a beta of 0.66.

Canadian Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 7th will be issued a $0.4577 dividend. This is a boost from Canadian Utilities's previous quarterly dividend of $0.45. This represents a $1.83 annualized dividend and a yield of 4.8%. Canadian Utilities's payout ratio is currently 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.