Canadian Utilities (TSE:CU) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Canadian Utilities Limited (TSE:CU) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$47.80 and traded as high as C$52.70. Canadian Utilities shares last traded at C$52.63, with a volume of 487,595 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank Of Canada raised their target price 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. TD increased 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 increased their price objective on Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. Finally, National Bank Financial raised their price objective on Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$47.71.

Canadian Utilities Price Performance

The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 186.03. The firm has a fifty day moving average price of C$50.71 and a two-hundred day moving average price of C$47.80. The stock has a market capitalization of C$14.33 billion, a P/E ratio of 526.30, a P/E/G ratio of 2.38 and a beta of 0.53.

Canadian Utilities (TSE:CU) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share (EPS) for the quarter. The company 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%. On average, analysts expect that Canadian Utilities Limited will post 2.4063556 EPS for the current 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.