Analysts Set Hydro One Limited (TSE:H) Target Price at C$39.89

Hydro One Limited (TSE:H) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$39.89.

A number of research firms have recently weighed in on H. 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 dropped their price objective on Hydro One from C$40.00 to C$38.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd.

Hydro One Stock Up 1.4 %

Shares of H opened at C$43.66 on Friday. The firm has a market cap of C$26.17 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.90 and a beta of 0.29. The stock has a 50 day simple moving average of C$40.35 and a two-hundred day simple moving average of C$39.97. The company has a debt-to-equity ratio of 141.04, a current ratio of 0.63 and a quick ratio of 0.30. Hydro One has a 1 year low of C$32.79 and a 1 year high of C$43.80.

Hydro One (TSE:H) last issued its earnings results on Tuesday, May 14th. The company reported C$0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.48 by C$0.01. The business had revenue of C$2.17 billion during the quarter. Hydro One had a return on equity of 9.45% and a net margin of 13.81%. On average, analysts forecast that Hydro One will post 1.9169847 earnings per share for the current fiscal year.

Hydro One Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 28th were given a $0.314 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.88%. This is a boost from Hydro One’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, June 12th. Hydro One’s dividend payout ratio (DPR) is currently 68.85%.

Hydro One Company Profile

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.