Hydro One (TSE:H) Hits New 1-Year High – Time to Buy?

Hydro One Limited (TSE:H)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$50.35 and last traded at C$49.99, with a volume of 122028 shares traded. The stock had previously closed at C$49.10.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on H shares. Scotiabank upped their price objective on Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Royal Bank of Canada increased their target price on shares of Hydro One from C$43.00 to C$46.00 in a report on Friday, February 21st. Finally, CIBC lifted their price target on shares of Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Hydro One has a consensus rating of “Hold” and an average price target of C$45.43.

Hydro One Price Performance

The business has a 50-day moving average of C$46.45 and a 200 day moving average of C$45.56. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The firm has a market capitalization of C$29.92 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34.

Hydro One Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a dividend of $0.3142 per share. This is a boost from Hydro One’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Wednesday, March 12th. Hydro One’s dividend payout ratio (DPR) is currently 66.44%.

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.