Hydro One (TSE:H) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of Hydro One Limited (TSE:H) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$45.48 and traded as low as C$44.90. Hydro One shares last traded at C$45.19, with a volume of 746,765 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on H. Wells Fargo & Company increased their price objective on Hydro One from C$42.00 to C$46.00 in a research report on Monday, August 19th. National Bankshares raised their price target on Hydro One from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. BMO Capital Markets raised their price target on Hydro One from C$42.00 to C$44.00 in a research report on Thursday, September 5th. Royal Bank of Canada raised their price target on Hydro One from C$41.00 to C$43.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 3rd. Finally, Raymond James raised their price target on Hydro One from C$41.00 to C$45.00 in a research report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$43.00.

Hydro One Stock Performance

The company has a debt-to-equity ratio of 137.11, a current ratio of 0.40 and a quick ratio of 0.30. The stock has a 50-day simple moving average of C$45.48 and a 200-day simple moving average of C$42.78. The stock has a market cap of C$27.09 billion, a P/E ratio of 24.17, a PEG ratio of 3.17 and a beta of 0.34.

Hydro One Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be given a $0.314 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Wednesday, December 11th. Hydro One’s dividend payout ratio is presently 67.38%.

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.