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

Hydro One Limited (TSE:H) shares reached a new 52-week high on Wednesday . The company traded as high as C$57.63 and last traded at C$57.34, with a volume of 899094 shares traded. The stock had previously closed at C$56.47.

Wall Street Analysts Forecast Growth

H has been the topic of a number of recent research reports. Jefferies Financial Group cut their price target on shares of Hydro One from C$52.00 to C$50.00 in a report on Wednesday, January 28th. Raymond James Financial upped their price target on Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a research report on Friday, October 24th. National Bank Financial increased their price target 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. Scotiabank lifted their price objective on Hydro One from C$51.00 to C$53.00 in a research note on Tuesday, December 16th. Finally, Canadian Imperial Bank of Commerce upped their target price on Hydro One from C$52.00 to C$54.00 in a report on Tuesday, October 21st. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$53.05.

Hydro One Trading Up 1.5%

The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. The firm has a fifty day simple moving average of C$53.94 and a 200-day simple moving average of C$52.18. The firm has a market cap of C$34.39 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 3.17 and a beta of 0.22.

Hydro One (TSE:H) last posted its earnings results on Friday, February 13th. The company reported C$0.39 EPS for the quarter. The company had revenue of C$981.00 million during the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. On average, equities research analysts expect that Hydro One Limited will post 2.0572195 earnings per share for the current year.

Hydro One Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a dividend of $0.3331 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, December 10th. Hydro One’s dividend payout ratio (DPR) is 59.66%.

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.