Hydro One (TSE:H) Hits New 1-Year High – What’s Next?

Hydro One Limited (TSE:H)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$48.20 and last traded at C$47.89, with a volume of 48384 shares trading hands. The stock had previously closed at C$47.90.

Wall Street Analysts Forecast Growth

H has been the topic of several research analyst reports. CIBC boosted their price target on Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Royal Bank of Canada boosted their price target on Hydro One from C$43.00 to C$46.00 in a research note on Friday, February 21st. Finally, Scotiabank boosted their price objective on Hydro One from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, According to MarketBeat, Hydro One has a consensus rating of “Hold” and a consensus target price of C$45.43.

Hydro One Trading Down 0.6 %

The firm has a market cap of C$28.64 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.17 and a beta of 0.34. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The company has a fifty day moving average price of C$44.99 and a 200-day moving average price of C$45.17.

Hydro One Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.3142 dividend. This is a boost from Hydro One’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.26 dividend on an annualized basis and a yield of 2.63%. Hydro One’s dividend payout ratio is presently 66.44%.

Insider Buying and Selling

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

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.