Hydro One Limited (TSE:H) Given Average Recommendation of “Hold” by Analysts

Hydro One Limited (TSE:H) has earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$57.09.

A number of research firms have recently weighed in on H. Barclays reduced their price target on shares of Hydro One from C$66.00 to C$63.00 in a research note on Friday, April 10th. BMO Capital Markets lifted their target price on shares of Hydro One from C$55.00 to C$58.00 and gave the stock a “market perform” rating in a research report on Thursday, May 14th. Jefferies Financial Group downgraded shares of Hydro One from a “hold” rating to a “moderate sell” rating in a research report on Monday, June 1st. National Bank Financial boosted their price target on shares of Hydro One from C$56.00 to C$61.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Finally, Scotia boosted their price target on shares of Hydro One from C$53.00 to C$58.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th.

Hydro One Trading Up 0.7%

H opened at C$56.69 on Friday. The company’s 50 day moving average is C$57.99 and its 200-day moving average is C$56.28. Hydro One has a 1-year low of C$47.54 and a 1-year high of C$60.46. The company has a current ratio of 0.54, a quick ratio of 0.30 and a debt-to-equity ratio of 149.17. The company has a market cap of C$34.02 billion, a P/E ratio of 24.86, a PEG ratio of 3.17 and a beta of 0.35.

Hydro One (TSE:H) last posted its quarterly earnings results on Wednesday, May 13th. The company reported C$0.65 earnings per share for the quarter. Hydro One had a net margin of 14.78% and a return on equity of 10.87%. The company had revenue of C$1.22 billion for the quarter. Equities research analysts predict that Hydro One will post 2.0572195 earnings per share for the current fiscal year.

Hydro One Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.3531 per share. This is a positive change from Hydro One’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.41 annualized dividend and a dividend yield of 2.5%. Hydro One’s payout ratio is 58.44%.

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