Hydro One (TSE:H) Shares Pass Below 50 Day Moving Average – Here’s What Happened

Hydro One Limited (TSE:H)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$53.72 and traded as low as C$52.88. Hydro One shares last traded at C$53.13, with a volume of 681,685 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on H shares. National Bankshares increased their price target on shares of Hydro One from C$49.00 to C$53.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Raymond James Financial boosted their price objective on shares of Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a report on Friday, October 24th. CIBC increased their target price on shares of Hydro One from C$52.00 to C$54.00 in a report on Tuesday, October 21st. Finally, Scotiabank lifted their price target on shares of Hydro One from C$51.00 to C$53.00 in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$52.95.

Hydro One Stock Up 0.4%

The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. The firm’s fifty day simple moving average is C$53.72 and its 200 day simple moving average is C$51.41. The stock has a market capitalization of C$31.87 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 3.17 and a beta of 0.21.

Hydro One (TSE:H) last released its quarterly earnings results on Thursday, November 13th. The company reported C$0.70 earnings per share for the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. The company had revenue of C$1.22 billion during the quarter. On average, sell-side analysts forecast that Hydro One Limited will post 2.0572195 earnings per share for the current year.

Hydro One Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.3331 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, December 10th. Hydro One’s dividend payout ratio is 59.66%.

Hydro One Company Profile

Hydro One operates regulated transmission and distribution assets in Ontario. The area’s largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company’s rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business, Acronym Solutions, with annual revenue contributing less than 1% to consolidated results. The province of Ontario holds an approximate 47% common equity stake.