Hydro One Limited (TSE:H) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Hydro One Limited (TSE:H) have received an average recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$45.86.

H has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on shares of Hydro One from C$45.00 to C$49.00 and gave the company a “hold” rating in a research note on Tuesday. CIBC raised their target price on shares of Hydro One from C$46.00 to C$49.00 in a report on Friday, April 4th. 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. Finally, Scotiabank boosted their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th.

Hydro One Price Performance

Shares of TSE H traded up C$0.40 during mid-day trading on Tuesday, reaching C$49.78. The company’s stock had a trading volume of 169,577 shares, compared to its average volume of 1,029,613. The stock has a fifty day moving average of C$47.17 and a two-hundred day moving average of C$45.67. The firm has a market capitalization of C$29.85 billion, a PE ratio of 26.25, a P/E/G ratio of 3.17 and a beta of 0.34. Hydro One has a 52 week low of C$37.27 and a 52 week high of C$51.24. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30.

Hydro One Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a dividend of $0.3142 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.26 dividend on an annualized basis and a yield of 2.52%. This is a boost from Hydro One’s previous quarterly dividend of $0.31. 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.