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

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.

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analysts Set New Price Targets

CU has been the subject of several recent research reports. TD Securities upgraded shares of Canadian Utilities to a "hold" rating and set a C$40.00 target price for the company in a report on Friday, June 27th. Royal Bank Of Canada upped their price target 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 analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$39.20.

Canadian Utilities Stock Performance

The business's fifty day moving average price is C$38.19 and its two-hundred day moving average price is C$37.01. The company has a debt-to-equity ratio of 158.34, a quick ratio of 1.30 and a current ratio of 1.63. The stock has a market capitalization of C$7.88 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.38 and a beta of 0.66.

Canadian Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 7th will be given a $0.4577 dividend. This is a positive change 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 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.