Hydro One (TSE:H) Stock Passes Above Fifty Day Moving Average – What’s Next?

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$58.01 and traded as high as C$60.21. Hydro One shares last traded at C$60.19, with a volume of 693,017 shares changing hands.

Wall Street Analysts Forecast Growth

H has been the subject of a number of recent research reports. BMO Capital Markets raised their target price on shares of Hydro One from C$55.00 to C$58.00 and gave the company a “market perform” rating in a report on Thursday, May 14th. Barclays decreased their price target on shares of Hydro One from C$66.00 to C$63.00 in a research note on Friday, April 10th. Scotia increased their price objective on shares of Hydro One from C$53.00 to C$58.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. TD lifted their price objective on shares of Hydro One from C$57.00 to C$58.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Finally, Raymond James Financial boosted their target price on shares of Hydro One from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$57.09.

Hydro One Trading Up 1.0%

The company has a 50-day moving average price of C$58.01 and a two-hundred day moving average price of C$57.25. The stock has a market cap of C$36.12 billion, a P/E ratio of 26.40, a P/E/G ratio of 3.17 and a beta of 0.34. The company has a current ratio of 0.54, a quick ratio of 0.30 and a debt-to-equity ratio of 149.17.

Hydro One (TSE:H) last posted its quarterly earnings data on Wednesday, May 13th. The company reported C$0.65 EPS for the quarter. Hydro One had a net margin of 14.78% and a return on equity of 10.87%. The company had revenue of C$1.22 billion during the quarter. On average, research analysts expect that Hydro One Limited will post 2.0572195 EPS for the current fiscal year.

Hydro One Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.3531 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Hydro One’s previous quarterly dividend of $0.33. Hydro One’s dividend payout ratio is presently 58.44%.

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. The province of Ontario holds an approximate 47% common equity stake.