Insider Selling: Canadian Utilities Limited (CU) Director Sells 329 Shares of Stock
Canadian Utilities Limited (TSE:CU) Director Patrick F. Donovan sold 329 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of C$38.89, for a total transaction of C$12,794.81.
Shares of Canadian Utilities Limited (CU) traded up 0.67% during midday trading on Thursday, reaching $39.26. 185,180 shares of the company were exchanged. The firm has a 50-day moving average of $39.67 and a 200 day moving average of $39.64. Canadian Utilities Limited has a 52 week low of $34.83 and a 52 week high of $42.44. The firm has a market capitalization of $10.57 billion and a P/E ratio of 18.35.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 10th were given a dividend of $0.357 per share. The ex-dividend date was Tuesday, August 8th. This is a positive change from Canadian Utilities Limited’s previous quarterly dividend of $0.23. This represents a $1.43 dividend on an annualized basis and a dividend yield of 3.64%.
Separately, National Bank Financial cut shares of Canadian Utilities Limited from an “outperform” rating to a “sector perform” rating and set a C$45.00 price objective for the company. in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$41.20.
About Canadian Utilities Limited
Canadian Utilities Limited is a global enterprise company. Its segments include Electricity, Pipeline & Liquids, and Corporate & Other. Its Electricity segment’s activities are conducted through two regulated businesses; ATCO Electric Distribution and ATCO Electric Transmission, and three non-regulated businesses, ATCO Power, ATCO Power Australia and Alberta PowerLine (APL).
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