Brokerages Set Hydro One Limited (TSE:H) PT at C$57.09

Hydro One Limited (TSE:H) has received a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$57.09.

H has been the topic of several recent analyst reports. Raymond James Financial upped their price target on 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. National Bank Financial lifted their target price on shares of Hydro One from C$56.00 to C$61.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Jefferies Financial Group cut shares of Hydro One from a “hold” rating to a “moderate sell” rating in a report on Monday, June 1st. Scotia increased their price objective on Hydro One from C$53.00 to C$58.00 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. Finally, TD lifted their price objective on Hydro One from C$57.00 to C$58.00 and gave the company a “hold” rating in a research report on Thursday, May 14th.

Hydro One Trading Down 1.6%

Shares of H opened at C$57.08 on Monday. Hydro One has a 1-year low of C$48.22 and a 1-year high of C$60.57. The business’s 50-day moving average price is C$57.96 and its 200 day moving average price is C$57.55. The stock has a market capitalization of C$34.25 billion, a P/E ratio of 25.04, 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 released its quarterly earnings results on Wednesday, May 13th. The company reported C$0.65 earnings per share (EPS) for the quarter. Hydro One had a net margin of 14.78% and a return on equity of 10.87%. The business had revenue of C$1.22 billion for the quarter. Analysts expect that Hydro One will post 2.0572195 earnings per share for the current 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 $0.3531 dividend. This represents a $1.41 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, June 10th. This is a positive change from Hydro One’s previous quarterly dividend of $0.33. Hydro One’s dividend payout ratio (DPR) is presently 58.44%.

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