Hydro One (TSE:H) Shares Pass Below 50 Day Moving Average – Should You Sell?

Hydro One Limited (TSE:H) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$44.43 and traded as low as C$43.30. Hydro One shares last traded at C$43.98, with a volume of 1,426,564 shares.

Analyst Ratings Changes

H has been the subject of a number of research analyst reports. CIBC increased their price objective on shares of Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Scotiabank upped their price objective on Hydro One from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$45.00.

Hydro One Trading Down 1.6 %

The company’s 50-day simple moving average is C$44.43 and its 200 day simple moving average is C$44.90. 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$26.37 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34.

Hydro One Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.314 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.26 annualized dividend and a yield of 2.86%. Hydro One’s payout ratio is presently 66.44%.

Insiders Place Their Bets

In other Hydro One news, Director Stacey Mowbray purchased 700 shares of Hydro One stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of C$44.03 per share, with a total value of C$30,818.20. Following the acquisition, the director now owns 700 shares of the company’s stock, valued at C$30,818.20. This trade represents a ∞ increase in their position. 47.12% of the stock is currently owned by insiders.

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.