Hydro One Limited (TSE:H) Receives C$56.64 Consensus Target Price from Brokerages

Hydro One Limited (TSE:H) has earned an average rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$56.64.

Several research firms have recently commented on H. BMO Capital Markets upped their price objective on Hydro One from C$55.00 to C$58.00 and gave the stock a “market perform” rating in a research note on Thursday, May 14th. Barclays reduced their price objective on Hydro One from C$66.00 to C$63.00 in a research note on Friday, April 10th. TD upped their price objective on Hydro One from C$57.00 to C$58.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. TD Securities upped their price objective on Hydro One from C$56.00 to C$57.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Finally, Jefferies Financial Group reduced their price objective on Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th.

Hydro One Stock Up 0.5%

Shares of Hydro One stock opened at C$59.66 on Wednesday. The company has a market cap of C$35.80 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 3.17 and a beta of 0.38. The company’s 50 day moving average is C$58.33 and its 200 day moving average is C$55.98. Hydro One has a twelve month low of C$47.54 and a twelve month high of C$60.46. The company has a quick ratio of 0.30, a current ratio of 0.54 and a debt-to-equity ratio of 149.17.

Hydro One (TSE:H) last announced its earnings results on Wednesday, May 13th. The company reported C$0.65 EPS for the quarter. The business had revenue of C$1.22 billion during the quarter. Hydro One had a net margin of 14.78% and a return on equity of 10.87%. Research analysts anticipate that Hydro One will post 2.0572195 EPS for the current year.

Hydro One Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.3331 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Wednesday, March 11th. Hydro One’s dividend payout ratio is 58.44%.

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. The province of Ontario holds an approximate 47% common equity stake.