National Bank Financial Lowers Canadian Utilities Limited (TSE:CU) to Sector Perform
National Bank Financial lowered shares of Canadian Utilities Limited (TSE:CU) from an outperform rating to a sector perform rating in a research report sent to investors on Friday morning. National Bank Financial currently has C$45.00 price target on the stock. National Bank Financial also issued estimates for Canadian Utilities Limited’s FY2017 earnings at $2.52 EPS.
CU has been the subject of several other research reports. TD Securities increased their price objective on shares of Canadian Utilities Limited from C$39.00 to C$41.00 and gave the stock a hold rating in a research report on Thursday, April 27th. Barclays PLC increased their price objective on shares of Canadian Utilities Limited from C$38.00 to C$40.00 in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Canadian Utilities Limited presently has a consensus rating of Hold and an average price target of C$41.20.
Shares of Canadian Utilities Limited (TSE CU) opened at 39.57 on Friday. The firm has a market cap of $10.62 billion and a price-to-earnings ratio of 17.98. The firm’s 50 day moving average is $41.31 and its 200-day moving average is $39.19. Canadian Utilities Limited has a 52 week low of $34.83 and a 52 week high of $42.44.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be issued a dividend of $0.357 per share. This is a boost from Canadian Utilities Limited’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.43 annualized dividend and a yield of 3.61%.
In related news, insider Roberta L. Lambright sold 4,000 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of C$41.20, for a total transaction of C$164,800.00. Also, Director Nancy C. Southern bought 40,000 shares of Canadian Utilities Limited stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average price of C$22.17 per share, with a total value of C$886,800.00. Insiders have sold 5,362 shares of company stock valued at $220,748 in the last 90 days.
Canadian Utilities Limited Company Profile
Canadian Utilities Limited is a global enterprise company. Its segments include Electricity, Pipeline & Liquids, and Corporate & Other. Its Electricity segment’s activities are conducted through two regulated businesses; ATCO Electric Distribution and ATCO Electric Transmission, and three non-regulated businesses, ATCO Power, ATCO Power Australia and Alberta PowerLine (APL).
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