Hydro One (TSE:H) Sets New 12-Month High – Here’s What Happened

Shares of Hydro One Limited (TSE:H) hit a new 52-week high during trading on Monday . The stock traded as high as C$58.99 and last traded at C$58.30, with a volume of 63731 shares trading hands. The stock had previously closed at C$58.62.

Wall Street Analysts Forecast Growth

H has been the subject of a number of analyst reports. National Bank Financial lifted their price objective on Hydro One from C$49.00 to C$53.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Jefferies Financial Group dropped their target price on shares of Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. Scotiabank boosted their price target 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 objective on shares of Hydro One from C$56.00 to C$57.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$53.35.

Hydro One Stock Down 1.2%

The firm’s 50-day moving average is C$54.68 and its two-hundred day moving average is C$52.59. 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 stock has a market cap of C$34.73 billion, a P/E ratio of 25.97, a PEG ratio of 3.17 and a beta of 0.22.

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

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a dividend of $0.3331 per share. 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 presently 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.