Hydro One Limited (TSE:H) Increases Dividend to $0.33 Per Share

Hydro One Limited (TSE:H) announced a quarterly dividend on Wednesday, June 11th, TickerTech Dividends reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.3331 per share on Monday, June 30th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Wednesday, June 11th. This is a 6.0% increase from Hydro One’s previous quarterly dividend of $0.31.

Hydro One Trading Down 0.8%

Hydro One stock opened at C$49.44 on Monday. Hydro One has a 1 year low of C$38.24 and a 1 year high of C$53.98. The firm’s 50-day moving average is C$50.36 and its 200-day moving average is C$47.23. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. The company has a market cap of C$29.64 billion, a P/E ratio of 26.07, a PEG ratio of 3.17 and a beta of 0.34.

Analysts Set New Price Targets

A number of brokerages have issued reports on H. BMO Capital Markets raised their target price on shares of Hydro One from C$46.00 to C$50.00 and gave the stock a “market perform” rating in a report on Friday, May 9th. Royal Bank of Canada lifted their price target on shares of Hydro One from C$46.00 to C$53.00 in a research report on Friday, May 9th. Jefferies Financial Group upped their target price on Hydro One from C$45.00 to C$49.00 and gave the company a “hold” rating in a report on Tuesday, April 15th. CIBC upped their price target on shares of Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Finally, Desjardins set a C$58.00 price objective on Hydro One and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$49.67.

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.