Hydro One (TSE:H) Sets New 12-Month High – Should You Buy?

Hydro One Limited (TSE:H) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$48.75 and last traded at C$48.74, with a volume of 115631 shares. The stock had previously closed at C$48.46.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. CIBC boosted their target price on Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Scotiabank boosted their target price on Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on Hydro One from C$43.00 to C$46.00 in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Hydro One currently has a consensus rating of “Hold” and a consensus target price of C$45.43.

Hydro One Price Performance

The stock has a market capitalization of C$29.23 billion, a P/E ratio of 25.71, a PEG ratio of 3.17 and a beta of 0.34. The stock’s fifty day moving average is C$45.35 and its 200-day moving average is C$45.29. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30.

Hydro One Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a dividend of $0.3142 per share. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.26 dividend on an annualized basis and a yield of 2.58%. Hydro One’s payout ratio is currently 66.44%.

Insiders Place Their Bets

In other news, Director Stacey Mowbray bought 700 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of C$44.03 per share, with a total value of C$30,818.20. Following the transaction, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. The trade was a ∞ increase in their ownership of the stock. Company insiders own 47.12% of the company’s stock.

About Hydro One

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.