Hydro One (TSE:H) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Hydro One Limited (TSE:H) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$44.92 and traded as low as C$44.24. Hydro One shares last traded at C$44.27, with a volume of 542,767 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on H. BMO Capital Markets increased their target price on Hydro One from C$42.00 to C$44.00 in a report on Thursday, September 5th. Royal Bank of Canada increased their price objective on shares of Hydro One from C$41.00 to C$43.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 3rd. Finally, Raymond James boosted their target price on shares of Hydro One from C$41.00 to C$45.00 in a research report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$43.00.

Hydro One Price Performance

The company has a debt-to-equity ratio of 137.11, a quick ratio of 0.30 and a current ratio of 0.40. The company has a market capitalization of C$26.88 billion, a P/E ratio of 23.98, a P/E/G ratio of 3.17 and a beta of 0.34. The firm’s fifty day moving average is C$44.89 and its 200 day moving average is C$43.81.

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.314 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.80%. Hydro One’s dividend payout ratio is 67.38%.

Insider Buying and Selling

In related news, Director Stacey Mowbray bought 700 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the purchase, the director now directly owns 700 shares of the company’s stock, valued at approximately C$30,818.20. The trade was a ∞ increase in their ownership of the stock. 47.12% of the stock is owned by corporate insiders.

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.