Hydro One (TSE:H) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Hydro One Limited (TSE:H) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$58.28 and traded as low as C$57.93. Hydro One shares last traded at C$58.04, with a volume of 1,140,815 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on H. Raymond James Financial lifted their target price on Hydro One from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. TD boosted their price target on Hydro One from C$57.00 to C$58.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. BMO Capital Markets upped their price objective on shares of Hydro One from C$55.00 to C$58.00 and gave the stock a “market perform” rating in a research report on Thursday, May 14th. TD Securities increased their price objective on shares of Hydro One from C$56.00 to C$57.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Finally, National Bank Financial raised their target price on shares of Hydro One from C$55.00 to C$56.00 and gave the company a “sector perform” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hydro One currently has an average rating of “Hold” and a consensus target price of C$56.64.

Hydro One Trading Down 2.3%

The company has a debt-to-equity ratio of 149.17, a quick ratio of 0.30 and a current ratio of 0.54. The stock has a market capitalization of C$34.03 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 3.17 and a beta of 0.38. The firm’s fifty day simple moving average is C$58.22 and its 200 day simple moving average is C$56.08.

Hydro One (TSE:H) last released its earnings results on Wednesday, May 13th. The company reported C$0.65 EPS for the quarter. Hydro One had a net margin of 14.78% and a return on equity of 10.87%. The firm had revenue of C$1.22 billion for the quarter. As a group, equities research analysts forecast that Hydro One Limited will post 2.0572195 EPS for the current fiscal year.

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.3331 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $1.33 annualized dividend and a yield of 2.3%. Hydro One’s payout ratio is presently 58.44%.

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.