Hydro One (TSE:H) Stock Passes Below 50 Day Moving Average – Should You Sell?

Shares of Hydro One Limited (TSE:H) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$56.17 and traded as low as C$50.14. Hydro One shares last traded at C$51.13, with a volume of 3,978,916 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on H. National Bank Financial raised their target price on Hydro One from C$56.00 to C$61.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Barclays cut their price target on shares of Hydro One from C$63.00 to C$61.00 in a report on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on shares of Hydro One from C$58.00 to C$60.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Finally, Jefferies Financial Group downgraded shares of Hydro One from a “hold” rating to a “moderate sell” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$57.09.

Hydro One Stock Performance

The company has a debt-to-equity ratio of 154.61, a current ratio of 0.88 and a quick ratio of 0.30. The firm has a market capitalization of C$30.99 billion, a PE ratio of 21.88, a P/E/G ratio of 3.17 and a beta of 0.23. The firm has a fifty day moving average price of C$56.01 and a 200 day moving average price of C$57.34.

Hydro One (TSE:H) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.62 earnings per share for the quarter. Hydro One had a return on equity of 11.08% and a net margin of 14.87%.The firm had revenue of C$1.23 billion for the quarter. Research analysts anticipate that Hydro One Limited will post 2.0572195 earnings per share for the current fiscal year.

Hydro One Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be paid a $0.3531 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.41 dividend on an annualized basis and a yield of 2.7%. Hydro One’s dividend payout ratio (DPR) is currently 57.31%.

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.