Hydro One (TSE:H) Sets New 1-Year High – Here’s What Happened

Hydro One Limited (TSE:H) 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 trading hands. The stock had previously closed at C$49.10.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on H. CIBC raised their price objective on Hydro One from C$46.00 to C$49.00 in a research report on Friday. Scotiabank boosted their price target on shares of 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. Finally, Royal Bank of Canada increased their price objective on shares of Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Five equities research 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 price target of C$45.86.

Hydro One Stock Performance

The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. The firm has a market capitalization of C$29.42 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The company’s 50 day moving average is C$46.67 and its 200-day moving average is C$45.61.

Hydro One Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a $0.3142 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.56%. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, March 12th. Hydro One’s payout ratio is presently 66.44%.

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.