Hydro One (TSE:H) Reaches New 1-Year High – Should You Buy?

Hydro One Limited (TSE:H) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$58.99 and last traded at C$58.30, with a volume of 63731 shares changing hands. The stock had previously closed at C$58.62.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on H shares. TD Securities boosted their price target on Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Jefferies Financial Group dropped their target price on Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th. Scotiabank raised their price target on Hydro One from C$51.00 to C$53.00 in a research note on Tuesday, December 16th. Finally, National Bank Financial upped their price objective on shares of 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. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hydro One has a consensus rating of “Hold” and an average target price of C$53.35.

Hydro One Stock Down 1.2%

The firm has a 50-day moving average price of C$54.68 and a two-hundred day moving average price of C$52.59. The company has a market capitalization of C$34.73 billion, a P/E ratio of 25.97, a PEG ratio of 3.17 and a beta of 0.22. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53.

Hydro One (TSE:H) last posted its quarterly earnings results on Friday, February 13th. The company reported C$0.39 EPS for the quarter. Hydro One had a return on equity of 9.58% and a net margin of 13.59%.The firm had revenue of C$981.00 million during the quarter. Equities research analysts anticipate that Hydro One Limited will post 2.0572195 EPS for the current fiscal 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 given a $0.3331 dividend. This represents a $1.33 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, December 10th. Hydro One’s dividend payout ratio is 58.90%.

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.