Hydro One Limited (TSE:H) Increases Dividend to $0.33 Per Share

Hydro One Limited (TSE:H) announced a quarterly dividend on Wednesday, June 11th, TickerTech Dividends reports. Investors of record on Monday, June 30th will be given a dividend of 0.3331 per share on Monday, June 30th. This represents a $1.33 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, June 11th. This is a 6.0% increase from Hydro One’s previous quarterly dividend of $0.31.

Hydro One Stock Down 0.8%

TSE:H opened at C$49.44 on Monday. The firm’s 50 day simple moving average is C$50.36 and its 200 day simple moving average is C$47.23. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. Hydro One has a one year low of C$38.24 and a one year high of C$53.98. The company has a market cap of C$29.64 billion, a PE ratio of 26.07, a P/E/G ratio of 3.17 and a beta of 0.34.

Analyst Upgrades and Downgrades

Several research firms recently commented on H. Royal Bank of Canada lifted their target price on shares of Hydro One from C$46.00 to C$53.00 in a research report on Friday, May 9th. Jefferies Financial Group boosted their price target on shares of Hydro One from C$45.00 to C$49.00 and gave the stock a “hold” rating in a research report on Tuesday, April 15th. BMO Capital Markets boosted their price target on shares of Hydro One from C$46.00 to C$50.00 and gave the stock a “market perform” rating in a research report on Friday, May 9th. Scotiabank boosted their price target on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Finally, Raymond James dropped their price target on shares of Hydro One from C$48.00 to C$45.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$49.67.

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.