Canadian Utilities (TSE:CU) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Canadian Utilities Limited (TSE:CU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$46.63 and traded as high as C$51.83. Canadian Utilities shares last traded at C$51.73, with a volume of 391,458 shares traded.

Wall Street Analyst Weigh In

Several analysts have issued reports on CU shares. TD boosted their target price on Canadian Utilities from C$47.00 to C$48.00 and gave the company a “hold” rating in a research note on Friday, May 8th. TD Securities increased their price target on Canadian Utilities from C$41.00 to C$47.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Royal Bank Of Canada lifted their price objective on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce boosted their price objective on Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. 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 note on Monday, June 1st. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$47.71.

Canadian Utilities Stock Performance

The company has a market capitalization of C$13.97 billion, a PE ratio of 513.00, a PEG ratio of 2.38 and a beta of 0.52. 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 company has a 50-day moving average price of C$49.56 and a two-hundred day moving average price of C$46.67.

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