Hydro One (TSE:H) Sets New 52-Week High – Should You Buy?

Hydro One Limited (TSE:H)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$60.54 and last traded at C$60.54, with a volume of 97087 shares traded. The stock had previously closed at C$59.79.

Analysts Set New Price Targets

Several research firms have issued reports on H. Jefferies Financial Group cut Hydro One from a “hold” rating to a “moderate sell” rating in a research note on Monday, June 1st. BMO Capital Markets lifted their price objective 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 cut their target price on shares of Hydro One from C$66.00 to C$63.00 in a research note on Friday, April 10th. National Bank Financial increased their target price on shares of Hydro One from C$56.00 to C$61.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Finally, Raymond James Financial raised their price target on shares of Hydro One from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$57.09.

Hydro One Stock Up 0.0%

The company has a quick ratio of 0.30, a current ratio of 0.54 and a debt-to-equity ratio of 149.17. The stock has a market cap of C$35.89 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The firm has a fifty day moving average of C$58.06 and a 200 day moving average of C$57.31.

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

Hydro One Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.3531 dividend. This represents a $1.41 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Hydro One’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, June 10th. Hydro One’s dividend payout ratio is currently 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.