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

Canadian Utilities Limited (TSE:CU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$47.40 and traded as high as C$52.71. Canadian Utilities shares last traded at C$52.23, with a volume of 867,587 shares.

Analyst Ratings Changes

CU has been the topic of several research reports. TD raised their price objective on Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce upped their target price on Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. National Bank Financial increased their price target on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada raised their price target on Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Canadian Utilities has a consensus rating of “Hold” and an average target price of C$47.71.

Canadian Utilities Stock Performance

The firm’s fifty day moving average price is C$50.30 and its 200 day moving average price is C$47.43. The firm has a market cap of C$14.30 billion, a P/E ratio of 525.00, a price-to-earnings-growth ratio of 2.38 and a beta of 0.52. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32.

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

About Canadian Utilities

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.