Hydro One (TSE:H) Shares Pass Below 50 Day Moving Average – Here’s What Happened

Shares of Hydro One Limited (TSE:H) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$53.72 and traded as low as C$52.88. Hydro One shares last traded at C$53.13, with a volume of 681,685 shares trading hands.

Wall Street Analyst Weigh In

H has been the topic of several research analyst reports. Raymond James Financial increased their target price on Hydro One from C$49.00 to C$53.50 and gave the stock a “market perform” rating in a report on Friday, October 24th. Scotiabank raised their price objective on shares of Hydro One from C$51.00 to C$53.00 in a research report on Tuesday, December 16th. National Bankshares boosted their target price on shares of Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Finally, CIBC increased their price target on shares of Hydro One from C$52.00 to C$54.00 in a research note on Tuesday, October 21st. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$52.95.

Hydro One Stock Performance

The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. The company has a market cap of C$31.87 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 3.17 and a beta of 0.21. The firm’s 50-day moving average price is C$53.72 and its 200 day moving average price is C$51.41.

Hydro One (TSE:H) last announced its quarterly earnings data on Thursday, November 13th. The company reported C$0.70 earnings per share (EPS) for the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. The firm had revenue of C$1.22 billion for the quarter. On average, sell-side analysts anticipate that Hydro One Limited will post 2.0572195 EPS for the current year.

Hydro One Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a $0.3331 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, December 10th. Hydro One’s dividend payout ratio (DPR) is currently 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.