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

Hydro One Limited (TSE:H) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$60.44 and last traded at C$59.91, with a volume of 42105 shares changing hands. The stock had previously closed at C$60.09.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on H shares. National Bank Financial raised their price objective 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. Scotiabank boosted their target price on Hydro One from C$51.00 to C$53.00 in a research report on Tuesday, December 16th. TD Securities upped their target price on Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Finally, Jefferies Financial Group decreased their price target on Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$53.35.

Hydro One Trading Down 0.1%

The company has a market cap of C$36.00 billion, a PE ratio of 26.92, a PEG 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. The company has a 50 day simple moving average of C$55.63 and a two-hundred day simple moving average of C$53.17.

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

Hydro One Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a $0.3331 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $1.33 dividend on an annualized basis and a yield of 2.2%. Hydro One’s dividend payout ratio is currently 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.