Hydro One (TSE:H) Hits New 1-Year High – Time to Buy?

Hydro One Limited (TSE:H)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$59.38 and last traded at C$59.37, with a volume of 170661 shares changing hands. The stock had previously closed at C$59.08.

Analyst Upgrades and Downgrades

H has been the topic of several analyst reports. Jefferies Financial Group reduced their price target on shares of Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. TD Securities boosted their price objective on shares of 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. National Bank Financial 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 note on Wednesday, December 17th. Finally, Scotiabank raised their target price on Hydro One from C$51.00 to C$53.00 in a report on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Hydro One has a consensus rating of “Hold” and an average price target of C$53.35.

Hydro One Stock Performance

The firm has a market capitalization of C$35.72 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 3.17 and a beta of 0.33. The company has a current ratio of 0.61, a quick ratio of 0.30 and a debt-to-equity ratio of 151.72. The stock’s 50-day moving average is C$55.13 and its 200-day moving average is C$52.86.

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

Hydro One Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a dividend of $0.3331 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.33 annualized dividend and a dividend yield of 2.2%. Hydro One’s dividend payout ratio (DPR) is 58.90%.

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.