Hydro One Limited (TSE:H) Receives C$49.67 Average PT from Analysts

Hydro One Limited (TSE:H) has earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$49.67.

Several brokerages have commented on H. Scotiabank lifted their price objective on shares of Hydro One from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Desjardins set a C$58.00 price target on shares of Hydro One and gave the stock a “buy” rating in a report on Tuesday, May 6th. CIBC upped their target price on shares of Hydro One from C$46.00 to C$49.00 in a report on Friday, April 4th. Wells Fargo & Company boosted their price target on shares of Hydro One from C$47.00 to C$52.00 in a research report on Friday, May 9th. Finally, BMO Capital Markets upped their target price on shares of Hydro One from C$46.00 to C$50.00 and gave the company a “market perform” rating in a research report on Friday, May 9th.

Hydro One Stock Up 0.2%

Shares of H stock opened at C$49.19 on Wednesday. Hydro One has a fifty-two week low of C$38.24 and a fifty-two week high of C$53.98. 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 firm has a market capitalization of C$29.49 billion, a PE ratio of 25.94, a P/E/G ratio of 3.17 and a beta of 0.34. The stock’s 50-day simple moving average is C$50.34 and its 200-day simple moving average is C$47.29.

Hydro One Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be given a dividend of $0.3331 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, June 11th. This is an increase from Hydro One’s previous quarterly dividend of $0.31. Hydro One’s payout ratio is currently 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.