Hydro One (TSE:H) Shares Pass 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 Tuesday . The stock has a 50-day moving average of C$56.27 and traded as low as C$56.22. Hydro One shares last traded at C$57.09, with a volume of 1,319,119 shares traded.

Wall Street Analyst Weigh In

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

Hydro One Stock Performance

The business’s fifty day moving average is C$56.46 and its 200-day moving average is C$53.64. The company has a quick ratio of 0.30, a current ratio of 0.61 and a debt-to-equity ratio of 151.72. The company has a market cap of C$34.29 billion, a PE ratio of 25.64, a P/E/G ratio of 3.17 and a beta of 0.33.

Hydro One (TSE:H) last announced its earnings results on Friday, February 13th. The company reported C$0.39 EPS for the quarter. Hydro One had a net margin of 14.81% and a return on equity of 10.73%. The business had revenue of C$981.00 million during the quarter. As a group, research analysts predict that Hydro One Limited will post 2.0572195 EPS for the current fiscal year.

Hydro One Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a $0.3331 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, March 11th. 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.