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

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

Wall Street Analyst Weigh In

H has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on shares of Hydro One from C$51.00 to C$53.00 in a research note on Tuesday, December 16th. Jefferies Financial Group dropped their price target on shares of Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. Raymond James Financial increased their price objective on shares of Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a report on Friday, October 24th. CIBC raised their price objective on shares of Hydro One from C$52.00 to C$54.00 in a research note on Tuesday, October 21st. Finally, National Bankshares upped their target price on Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$53.05.

Hydro One Stock Up 1.3%

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 stock has a market capitalization of C$33.28 billion, a P/E ratio of 25.57, a PEG ratio of 3.17 and a beta of 0.22. The stock’s fifty day moving average is C$53.62 and its two-hundred day moving average is C$51.74.

Hydro One (TSE:H) last released its quarterly earnings data on Thursday, November 13th. The company reported C$0.70 earnings per share for the quarter. The business had revenue of C$1.22 billion during the quarter. Hydro One had a return on equity of 9.58% and a net margin of 13.59%. As a group, research analysts predict that Hydro One Limited will post 2.0572195 earnings per share for the current fiscal year.

Hydro One Announces Dividend

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