Hydro One (TSE:H) Reaches New 12-Month High – Should You Buy?

Hydro One Limited (TSE:H) hit a new 52-week high on Monday . The company traded as high as C$59.38 and last traded at C$59.37, with a volume of 170661 shares traded. The stock had previously closed at C$59.08.

Wall Street Analyst Weigh In

H has been the topic of several analyst reports. National Bank Financial lifted their target price on Hydro One from C$49.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. TD Securities increased their price target on shares of Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a research report on Wednesday, February 18th. Scotiabank raised their price target on shares of Hydro One from C$51.00 to C$53.00 in a report on Tuesday, December 16th. Finally, Jefferies Financial Group cut their price objective on shares of Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Hydro One presently has a consensus rating of “Hold” and an average price target of C$53.35.

Hydro One Price Performance

The stock has a 50-day moving average price of C$55.34 and a two-hundred day moving average price of C$52.98. The company has a current ratio of 0.61, a quick ratio of 0.30 and a debt-to-equity ratio of 151.72. The stock has a market cap of C$35.48 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 3.17 and a beta of 0.33.

Hydro One (TSE:H) last announced its earnings results on Friday, February 13th. The company reported C$0.39 earnings per share (EPS) for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%.The company had revenue of C$981.00 million for the quarter. As a group, equities research analysts forecast that Hydro One Limited will post 2.0572195 EPS for the current year.

Hydro One Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.3331 per share. The ex-dividend date is Wednesday, March 11th. This represents a $1.33 annualized dividend and a dividend yield of 2.3%. Hydro One’s dividend payout ratio is 58.90%.

Hydro One Company Profile

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.