Canadian Utilities (TSE:CU) Share Price Crosses Below Two Hundred Day Moving Average of $31.01

Canadian Utilities Limited (TSE:CU) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$31.01 and traded as low as C$29.85. Canadian Utilities shares last traded at C$29.97, with a volume of 435,088 shares changing hands.

Analyst Upgrades and Downgrades

CU has been the topic of several recent research reports. Scotiabank lifted their price target on Canadian Utilities from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a research note on Monday, May 13th. CIBC lowered their target price on Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Canadian Utilities presently has an average rating of “Hold” and a consensus target price of C$35.43.

Canadian Utilities Trading Down 1.6 %

The company has a debt-to-equity ratio of 145.09, a current ratio of 1.03 and a quick ratio of 1.30. The business has a 50-day moving average of C$30.95 and a 200-day moving average of C$31.01. The firm has a market cap of C$6.13 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU) last announced its quarterly earnings results on Thursday, May 2nd. The company reported C$0.83 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.80 by C$0.03. The firm had revenue of C$1.09 billion for the quarter. Canadian Utilities had a return on equity of 9.25% and a net margin of 17.49%. Research analysts anticipate that Canadian Utilities Limited will post 2.3489583 EPS for the current year.

Canadian Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Thursday, May 2nd were given a dividend of $0.453 per share. This represents a $1.81 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date was Wednesday, May 1st. Canadian Utilities’s dividend payout ratio (DPR) is presently 84.58%.

Insiders Place Their Bets

In other Canadian Utilities news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total transaction of C$1,544,530.92. Company insiders own 37.97% 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.