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

Canadian Utilities Limited (TSE:CU) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$34.78 and traded as high as C$34.86. Canadian Utilities shares last traded at C$34.84, with a volume of 855,723 shares trading hands.

Analysts Set New Price Targets

Several research firms have issued reports on CU. Royal Bank of Canada lifted their target price on Canadian Utilities from C$38.00 to C$39.00 in a research note on Friday, November 15th. Scotiabank lifted their target price on Canadian Utilities from C$37.00 to C$38.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th.

Canadian Utilities Trading Up 1.5 %

The stock has a 50-day moving average of C$34.22 and a 200 day moving average of C$34.79. The stock has a market cap of C$7.12 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. The company has a quick ratio of 1.30, a current ratio of 1.63 and a debt-to-equity ratio of 158.34.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.