Hydro One (TSE:H) Sets New 12-Month High – Still a Buy?

Hydro One Limited (TSE:H) shares hit a new 52-week high on Wednesday . The company traded as high as C$57.63 and last traded at C$57.34, with a volume of 899094 shares changing hands. The stock had previously closed at C$56.47.

Wall Street Analyst Weigh In

Several research firms have issued reports on H. Canadian Imperial Bank of Commerce lifted their price target on Hydro One from C$52.00 to C$54.00 in a research note on Tuesday, October 21st. National Bank Financial boosted their target price on Hydro One from C$49.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Jefferies Financial Group decreased their price target on shares of Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th. Scotiabank boosted their price objective on shares of Hydro One from C$51.00 to C$53.00 in a research report on Tuesday, December 16th. Finally, Raymond James Financial raised their target price on shares of Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Hydro One has an average rating of “Hold” and a consensus target price of C$53.05.

Hydro One Stock Up 1.5%

The firm has a market cap of C$34.39 billion, a P/E ratio of 26.42, a P/E/G ratio of 3.17 and a beta of 0.22. The firm’s fifty day moving average is C$53.94 and its 200 day moving average is C$52.18. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58.

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

Hydro One Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a $0.3331 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.3%. Hydro One’s dividend payout ratio is 59.66%.

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.