Canadian Utilities (TSE:CU) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Canadian Utilities Limited (TSE:CU) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$45.03 and traded as high as C$48.46. Canadian Utilities shares last traded at C$48.29, with a volume of 584,774 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank Of Canada boosted their price objective on Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. TD Securities lifted their target price on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. National Bank Financial upped their price target on shares of Canadian Utilities from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their price target on shares of Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. Finally, TD raised their price target on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$47.00.

Canadian Utilities Trading Down 1.0%

The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. The firm has a market capitalization of C$13.15 billion, a PE ratio of 482.90, a P/E/G ratio of 2.38 and a beta of 0.60. The stock’s 50-day simple moving average is C$48.63 and its 200-day simple moving average is C$45.03.

Canadian Utilities (TSE:CU) last posted its earnings results on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. The firm had revenue of C$1.08 billion during the quarter. As a group, sell-side analysts expect that Canadian Utilities Limited will post 2.4063556 EPS for the current fiscal year.

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. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.