Hydro One (TSE:H) Hits New 1-Year High – Here’s What Happened

Hydro One Limited (TSE:H) reached a new 52-week high during trading on Thursday . The company traded as high as C$55.60 and last traded at C$55.49, with a volume of 1309584 shares changing hands. The stock had previously closed at C$54.79.

Analyst Ratings Changes

Several research firms have issued reports on H. Jefferies Financial Group decreased their price objective on shares of Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th. National Bankshares boosted their target price on Hydro One from C$49.00 to C$53.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Scotiabank raised their price target on Hydro One from C$51.00 to C$53.00 in a research note on Tuesday, December 16th. CIBC lifted their price target on Hydro One from C$52.00 to C$54.00 in a research report on Tuesday, October 21st. Finally, Raymond James Financial boosted their price objective on Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Hydro One currently has an average rating of “Hold” and an average target price of C$53.05.

Hydro One Trading Up 1.3%

The firm’s fifty day moving average price is C$53.62 and its 200-day moving average price is C$51.74. The company has a market cap of C$33.28 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 3.17 and a beta of 0.22. 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 (TSE:H) last issued its quarterly earnings data on Thursday, November 13th. The company reported C$0.70 earnings per share for the quarter. The firm had revenue of C$1.22 billion for the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. On average, equities analysts expect that Hydro One Limited will post 2.0572195 EPS for the current fiscal year.

Hydro One Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a dividend of $0.3331 per share. The ex-dividend date was Wednesday, December 10th. This represents a $1.33 annualized dividend and a dividend yield of 2.4%. Hydro One’s payout ratio is currently 59.66%.

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.