Canadian Utilities (TSE:CU) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Canadian Utilities Limited (TSE:CU)’s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$51.12 and traded as low as C$49.53. Canadian Utilities shares last traded at C$49.59, with a volume of 265,211 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Canadian Utilities from C$50.00 to C$55.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce dropped their price objective on Canadian Utilities from C$55.00 to C$52.00 in a research note on Tuesday, September 22nd. Scotiabank boosted 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 note on Tuesday, July 21st. National Bank Financial boosted their target price on Canadian Utilities from C$55.00 to C$56.00 and gave the company a “sector perform” rating in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada increased their price target on Canadian Utilities from C$58.00 to C$63.00 and gave the stock a “sector perform” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$54.71.

Canadian Utilities Stock Performance

The company has a market capitalization of C$13.50 billion, a price-to-earnings ratio of 309.94, a PEG ratio of 2.38 and a beta of 0.36. The stock has a 50-day moving average price of C$50.76 and a 200-day moving average price of C$51.12. The company has a debt-to-equity ratio of 184.88, a current ratio of 1.80 and a quick ratio of 1.30.

Canadian Utilities (TSE:CU) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$0.51 EPS for the quarter. Canadian Utilities had a net margin of 3.30% and a return on equity of 1.88%. The business had revenue of C$914.00 million for the quarter. As a group, analysts forecast that Canadian Utilities Limited will post 2.41 earnings per share for the current year.

Canadian Utilities Company Profile

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.