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

Canadian Utilities Limited (TSE:CU) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$49.74 and traded as high as C$53.27. Canadian Utilities shares last traded at C$53.22, with a volume of 563,652 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. National Bank Financial upped their target price on shares of Canadian Utilities from C$51.00 to C$55.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Royal Bank Of Canada upped their price objective on shares of Canadian Utilities from C$50.00 to C$58.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their price target on Canadian Utilities from C$53.00 to C$55.00 in a research report on Thursday, July 30th. Scotiabank lifted their target price on Canadian Utilities from C$50.00 to C$53.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Finally, TD increased their price target on shares of Canadian Utilities from C$48.00 to C$52.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$53.57.

Canadian Utilities Stock Up 1.1%

The business has a 50-day simple moving average of C$53.19 and a 200-day simple moving average of C$49.77. The company has a debt-to-equity ratio of 184.88, a quick ratio of 1.30 and a current ratio of 1.80. The company has a market cap of C$14.65 billion, a price-to-earnings ratio of 336.25, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55.

Canadian Utilities (TSE:CU) last released its earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share for the quarter. Canadian Utilities had a net margin of 3.30% and a return on equity of 1.88%. The firm had revenue of C$914.00 million for the quarter. On average, equities analysts anticipate 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.