Hydro One (TSE:H) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of Hydro One Limited (TSE:H) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$47.08 and traded as high as C$48.44. Hydro One shares last traded at C$48.43, with a volume of 665,314 shares changing hands.

Analysts Set New Price Targets

H has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on shares of Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Scotiabank upped 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 research report on Thursday, February 13th. Finally, CIBC raised their price target on Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$45.86.

Hydro One Price Performance

The stock has a market capitalization of C$29.04 billion, a PE ratio of 25.54, a P/E/G ratio of 3.17 and a beta of 0.34. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. The stock’s fifty day moving average is C$47.08 and its 200-day moving average is C$45.66.

Hydro One Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a dividend of $0.3142 per share. This represents a $1.26 annualized dividend and a yield of 2.60%. The ex-dividend date was Wednesday, March 12th. This is a boost from Hydro One’s previous quarterly dividend of $0.31. Hydro One’s payout ratio is 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.