Hydro One (TSE:H) Hits New 52-Week 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$60.44 and last traded at C$59.91, with a volume of 42105 shares trading hands. The stock had previously closed at C$60.09.

Analysts Set New Price Targets

A number of brokerages recently issued reports on H. Jefferies Financial Group decreased their price objective on Hydro One from C$52.00 to C$50.00 in a report on Wednesday, January 28th. National Bank Financial boosted their price target on Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Scotiabank increased their price target on Hydro One from C$51.00 to C$53.00 in a research note on Tuesday, December 16th. Finally, TD Securities raised 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. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Hydro One presently has a consensus rating of “Hold” and a consensus price target of C$53.35.

Hydro One Price Performance

The company has a 50 day moving average of C$55.63 and a two-hundred day moving average of C$53.17. The firm has a market cap of C$36.00 billion, a P/E ratio of 26.92, a PEG ratio of 3.17 and a beta of 0.33. The company has a quick ratio of 0.30, a current ratio of 0.61 and a debt-to-equity ratio of 151.72.

Hydro One (TSE:H) last issued its quarterly 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 firm had revenue of C$981.00 million for the quarter. Sell-side analysts expect that Hydro One Limited will post 2.0572195 EPS for the current year.

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be paid 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 yield of 2.2%. Hydro One’s dividend payout ratio is currently 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.