Canadian Utilities (TSE:CU) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Canadian Utilities Limited (TSE:CU)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 Ratings Changes

CU has been the topic of several analyst reports. Canadian Imperial Bank of Commerce upped their price target on Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. Royal Bank Of Canada increased 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 lifted their target price on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Finally, National Bank Financial boosted 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 MarketBeat.com, Canadian Utilities has an average rating of “Hold” and an average target price of C$47.71.

Canadian Utilities Price Performance

The firm has a market capitalization of C$14.33 billion, a PE ratio of 526.30, a PEG ratio of 2.38 and a beta of 0.53. The firm’s fifty day simple moving average is C$50.71 and its 200-day simple moving average is C$47.80. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 186.03.

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