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

Hydro One Limited (TSE:H)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$59.38 and last traded at C$59.37, with a volume of 170661 shares trading hands. The stock had previously closed at C$59.08.

Analysts Set New Price Targets

Several research firms have recently issued reports on H. TD Securities upped their price objective on Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. National Bank Financial lifted their target price on shares of Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Scotiabank boosted their target price on shares of Hydro One from C$51.00 to C$53.00 in a report on Tuesday, December 16th. Finally, Jefferies Financial Group decreased their price target on shares of Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$53.35.

Hydro One Price Performance

The company has a fifty day simple moving average of C$55.13 and a 200 day simple moving average of C$52.86. The stock has a market capitalization of C$35.72 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 3.17 and a beta of 0.33. The company has a debt-to-equity ratio of 151.72, a quick ratio of 0.30 and a current ratio of 0.61.

Hydro One (TSE:H) last issued its quarterly earnings results on Friday, February 13th. The company reported C$0.39 earnings per share for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%.The company had revenue of C$981.00 million during the quarter. Equities research analysts forecast that Hydro One Limited will post 2.0572195 EPS for the current fiscal year.

Hydro One Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.3331 per share. The ex-dividend date is Wednesday, March 11th. This represents a $1.33 annualized dividend and a yield of 2.2%. Hydro One’s dividend payout ratio (DPR) is presently 58.90%.

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.