Hydro One (TSE:H) Reaches New 12-Month High After Analyst Upgrade

Hydro One Limited (TSE:H)’s stock price reached a new 52-week high during trading on Wednesday after TD Securities raised their price target on the stock from C$56.00 to C$57.00. TD Securities currently has a hold rating on the stock. Hydro One traded as high as C$57.63 and last traded at C$57.34, with a volume of 899094 shares. The stock had previously closed at C$56.47.

A number of other research firms also recently weighed in on H. Canadian Imperial Bank of Commerce boosted their target price on shares of Hydro One from C$52.00 to C$54.00 in a research report on Tuesday, October 21st. Raymond James Financial boosted their price objective on shares of Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a research report on Friday, October 24th. National Bank Financial raised their target price on Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. Jefferies Financial Group lowered their target price on Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. Finally, Scotiabank upped their price target on Hydro One from C$51.00 to C$53.00 in a research report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$53.35.

Hydro One Stock Down 0.3%

The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. The firm has a market cap of C$33.99 billion, a PE ratio of 25.41, a PEG ratio of 3.17 and a beta of 0.22. The business’s 50 day moving average price is C$54.20 and its 200 day moving average price is C$52.29.

Hydro One (TSE:H) last announced its earnings results on Friday, February 13th. The company reported C$0.39 earnings per share (EPS) for the quarter. The company had revenue of C$981.00 million for the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. On average, equities research analysts expect that Hydro One Limited will post 2.0572195 earnings per share for the current year.

Hydro One Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a $0.3331 dividend. This represents a $1.33 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, December 10th. Hydro One’s payout ratio is presently 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.