Hydro One (TSE:H) Sets New 1-Year High – Here’s Why

Hydro One Limited (TSE:H)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$52.09 and last traded at C$51.87, with a volume of 512786 shares traded. The stock had previously closed at C$51.58.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on H. Royal Bank of Canada boosted their target price on Hydro One from C$43.00 to C$46.00 in a report on Friday, February 21st. Raymond James dropped their target price on Hydro One from C$48.00 to C$45.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Jefferies Financial Group boosted their price target on shares of Hydro One from C$45.00 to C$49.00 and gave the company a “hold” rating in a research report on Tuesday, April 15th. Scotiabank lifted their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Finally, CIBC lifted their target price on Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$46.25.

Hydro One Price Performance

The firm has a market capitalization of C$31.10 billion, a PE ratio of 27.35, a P/E/G ratio of 3.17 and a beta of 0.34. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The company has a fifty day moving average price of C$48.49 and a two-hundred day moving average price of C$46.06.

Hydro One Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a dividend of $0.3142 per share. This is an increase from Hydro One’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a yield of 2.42%. The ex-dividend date was Wednesday, March 12th. Hydro One’s dividend payout ratio (DPR) is presently 66.44%.

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.