Hydro One Limited (TSE:H) Receives Average Rating of “Hold” from Analysts

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

H has been the topic of a number of research analyst reports. BMO Capital Markets raised their target price on Hydro One from C$55.00 to C$58.00 and gave the company a “market perform” rating in a report on Thursday, May 14th. Raymond James Financial boosted their price target on Hydro One from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Barclays dropped their price objective on Hydro One from C$66.00 to C$63.00 in a research report on Friday, April 10th. TD raised their price objective on Hydro One from C$57.00 to C$58.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Finally, Jefferies Financial Group cut Hydro One from a “hold” rating to a “moderate sell” rating in a research report on Monday, June 1st.

Hydro One Stock Performance

TSE H opened at C$58.59 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.30 and a debt-to-equity ratio of 149.17. The firm has a market capitalization of C$35.16 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 3.17 and a beta of 0.34. The firm’s 50 day simple moving average is C$57.88 and its 200 day simple moving average is C$57.01. Hydro One has a 1 year low of C$47.54 and a 1 year high of C$60.46.

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

Hydro One Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.3531 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, June 10th. This is an increase from Hydro One’s previous quarterly dividend of $0.33. Hydro One’s dividend payout ratio is 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.