Brokerages Set Hydro One Limited (TSE:H) PT at C$57.09

Shares of Hydro One Limited (TSE:H) have been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$57.09.

Several research firms recently issued reports on H. Jefferies Financial Group lowered shares of Hydro One from a “hold” rating to a “moderate sell” rating in a report on Monday, June 1st. Raymond James Financial lifted their price target on shares of Hydro One from C$57.00 to C$58.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. National Bank Financial upped their price target on shares of Hydro One from C$56.00 to C$61.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. TD increased their price objective on shares of Hydro One from C$57.00 to C$58.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Finally, BMO Capital Markets raised their price objective on shares of Hydro One from C$55.00 to C$58.00 and gave the company a “market perform” rating in a research report on Thursday, May 14th.

Hydro One Trading Up 0.2%

Shares of H stock opened at C$56.54 on Monday. The company has a debt-to-equity ratio of 149.17, a current ratio of 0.54 and a quick ratio of 0.30. The company has a market cap of C$33.93 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 3.17 and a beta of 0.35. Hydro One has a 1 year low of C$48.22 and a 1 year high of C$60.57. The firm has a fifty day moving average price of C$57.92 and a 200-day moving average price of C$57.57.

Hydro One (TSE:H) last released its earnings results on Wednesday, May 13th. The company reported C$0.65 earnings per share for the quarter. The company had revenue of C$1.22 billion for the quarter. Hydro One had a return on equity of 10.87% and a net margin of 14.78%. As a group, equities analysts predict that Hydro One will post 2.0572195 earnings per share for the current year.

Hydro One Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.3531 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.41 annualized dividend and a yield of 2.5%. This is an increase from Hydro One’s previous quarterly dividend of $0.33. Hydro One’s payout ratio is currently 58.44%.

About Hydro One

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.