Hydro One (TSE:H) Hits New 1-Year High at $42.57

Hydro One Limited (TSE:H)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$42.57 and last traded at C$42.56, with a volume of 34129 shares trading hands. The stock had previously closed at C$42.31.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on H. Scotiabank decreased their price target on Hydro One from C$40.00 to C$38.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. National Bankshares boosted their target price on Hydro One from C$38.00 to C$39.00 in a research report on Wednesday, May 15th. Finally, CIBC boosted their price objective on Hydro One from C$40.50 to C$41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$39.89.

Hydro One Stock Performance

The company has a debt-to-equity ratio of 141.04, a current ratio of 0.63 and a quick ratio of 0.30. The company has a market cap of C$25.60 billion, a PE ratio of 23.12, a PEG ratio of 2.90 and a beta of 0.29. The stock has a 50 day simple moving average of C$40.10 and a two-hundred day simple moving average of C$39.86.

Hydro One (TSE:H) last released its quarterly earnings results on Tuesday, May 14th. The company reported C$0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.48 by C$0.01. Hydro One had a return on equity of 9.45% and a net margin of 13.81%. The firm had revenue of C$2.17 billion for the quarter. Equities analysts predict that Hydro One Limited will post 1.9169847 EPS for the current year.

Hydro One Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 28th were given a $0.314 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $1.26 dividend on an annualized basis and a yield of 2.94%. This is an increase from Hydro One’s previous quarterly dividend of $0.30. Hydro One’s dividend payout ratio (DPR) is presently 68.85%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.