Insider Selling: Canadian Utilities Limited (CU) Director Sells 700 Shares of Stock

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Canadian Utilities Limited (TSE:CU) Director Steven R. Piepgrass sold 700 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$36.46, for a total value of C$25,522.00. Following the completion of the transaction, the director now directly owns 3,233 shares of the company’s stock, valued at C$117,875.18.

CU stock traded down C$0.08 during midday trading on Friday, reaching C$37.03. 42,472 shares of the company’s stock traded hands, compared to its average volume of 295,862. Canadian Utilities Limited has a 1-year low of C$29.12 and a 1-year high of C$37.51. The stock has a market capitalization of $10.11 billion and a price-to-earnings ratio of 16.74. The company has a debt-to-equity ratio of 161.25, a current ratio of 1.08 and a quick ratio of 0.83.

Canadian Utilities (TSE:CU) last released its quarterly earnings results on Thursday, February 28th. The company reported C$0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.61 by C$0.08. The business had revenue of C$1.04 billion for the quarter. On average, equities analysts expect that Canadian Utilities Limited will post 2.26000017660111 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on CU. CSFB cut Canadian Utilities from an “outperform” rating to a “neutral” rating in a report on Monday, January 28th. UBS Group increased their target price on Canadian Utilities from C$36.00 to C$38.00 in a report on Wednesday, March 20th. CIBC increased their target price on Canadian Utilities from C$35.00 to C$38.00 in a report on Wednesday, April 3rd. TD Securities increased their target price on Canadian Utilities from C$35.00 to C$37.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada increased their target price on Canadian Utilities from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Canadian Utilities currently has an average rating of “Hold” and an average target price of C$36.50.

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About Canadian Utilities

Canadian Utilities Limited and its subsidiaries engage in the electricity, pipelines and liquids, and retail energy businesses worldwide. It operates through Electricity, Pipelines & Liquids, and Corporate & Other segments. The Electricity segment provides electricity generation, transmission, distribution; and related infrastructure solutions in Alberta, Ontario, the Yukon, the Northwest Territories, in Canada, as well as in Australia and Mexico.

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