Hydro One (TSE:H) Sets New 12-Month High at $42.57

Hydro One Limited (TSE:H)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$42.57 and last traded at C$42.56, with a volume of 34129 shares. The stock had previously closed at C$42.31.

Wall Street Analyst Weigh In

A number of analysts recently commented on H shares. National Bankshares increased their price objective on Hydro One from C$38.00 to C$39.00 in a research note on Wednesday, May 15th. CIBC increased their price objective on Hydro One from C$40.50 to C$41.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Scotiabank decreased their price objective on Hydro One from C$40.00 to C$38.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$39.89.

Hydro One Stock Performance

The company has a market capitalization of C$25.81 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 2.90 and a beta of 0.29. The firm has a 50 day moving average price of C$40.22 and a two-hundred day moving average price of C$39.91. The company has a debt-to-equity ratio of 141.04, a quick ratio of 0.30 and a current ratio of 0.63.

Hydro One (TSE:H) last announced its quarterly earnings data on Tuesday, May 14th. The company reported C$0.49 EPS for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.01. The firm had revenue of C$2.17 billion for the quarter. Hydro One had a return on equity of 9.45% and a net margin of 13.81%. On average, research analysts expect that Hydro One Limited will post 1.9169847 earnings per share for the current fiscal year.

Hydro One Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were issued a dividend of $0.314 per share. The ex-dividend date was Wednesday, June 12th. This is a positive change from Hydro One’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a yield of 2.92%. Hydro One’s payout ratio is currently 68.85%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.