Hydro One (TSE:H) Shares Pass Above 50 Day Moving Average – What’s Next?

Hydro One Limited (TSE:H)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$58.01 and traded as high as C$60.21. Hydro One shares last traded at C$60.19, with a volume of 693,017 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on H. Scotia raised their price target on 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. Barclays dropped their price objective on Hydro One from C$66.00 to C$63.00 in a report on Friday, April 10th. TD increased their target price on Hydro One from C$57.00 to C$58.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. National Bank Financial raised their target price on Hydro One from C$56.00 to C$61.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Finally, Jefferies Financial Group lowered Hydro One from a “hold” rating to a “moderate sell” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Hydro One currently has an average rating of “Hold” and an average target price of C$57.09.

Hydro One Stock Performance

The firm has a market cap of C$36.12 billion, a P/E ratio of 26.40, a PEG ratio of 3.17 and a beta of 0.34. The company has a debt-to-equity ratio of 149.17, a quick ratio of 0.30 and a current ratio of 0.54. The stock’s 50-day moving average is C$58.01 and its 200 day moving average is C$57.25.

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

Hydro One Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.3531 per share. This is a boost from Hydro One’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, June 10th. This represents a $1.41 annualized dividend and a dividend yield of 2.3%. Hydro One’s dividend payout ratio (DPR) is presently 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.