Hydro One (TSE:H) Reaches New 52-Week High – Still a Buy?

Hydro One Limited (TSE:H)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$57.77 and last traded at C$57.64, with a volume of 1191418 shares. The stock had previously closed at C$56.67.

Analysts Set New Price Targets

H has been the topic of a number of research analyst reports. National Bank Financial lifted their price target on Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Jefferies Financial Group lowered their target price on shares of Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th. Scotiabank increased their target price on shares of Hydro One from C$51.00 to C$53.00 in a research report on Tuesday, December 16th. Finally, TD Securities raised their price target on shares of Hydro One from C$56.00 to C$57.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$53.35.

Hydro One Stock Up 0.1%

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 business has a 50 day simple moving average of C$54.50 and a 200-day simple moving average of C$52.47. The firm has a market capitalization of C$34.78 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 3.17 and a beta of 0.22.

Hydro One (TSE:H) last announced its quarterly earnings data on Friday, February 13th. The company reported C$0.39 earnings per share (EPS) for the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. The firm had revenue of C$981.00 million during the quarter. On average, equities analysts expect that Hydro One Limited will post 2.0572195 EPS for the current year.

Hydro One Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.3331 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $1.33 dividend on an annualized basis and a yield of 2.3%. Hydro One’s dividend payout ratio is currently 58.90%.

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.