Hydro One (TSE:H) Hits New 52-Week High – Here’s Why

Shares of Hydro One Limited (TSE:H) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$48.75 and last traded at C$48.74, with a volume of 115631 shares trading hands. The stock had previously closed at C$48.46.

Analyst Ratings Changes

H has been the topic of several research reports. CIBC lifted their price objective on shares of Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Royal Bank of Canada lifted their price objective on shares of Hydro One from C$43.00 to C$46.00 in a report on Friday, February 21st. Finally, Scotiabank raised their target price 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. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Hydro One has a consensus rating of “Hold” and an average target price of C$45.43.

Hydro One Trading Up 0.5 %

The company has a market capitalization of C$29.56 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 3.17 and a beta of 0.34. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. The company’s 50 day simple moving average is C$45.54 and its two-hundred day simple moving average is C$45.35.

Hydro One Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.3142 per share. This is an increase from Hydro One’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, March 12th. Hydro One’s payout ratio is presently 66.44%.

Insider Transactions at Hydro One

In related news, Director Stacey Mowbray acquired 700 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the completion of the purchase, the director now owns 700 shares of the company’s stock, valued at approximately C$30,818.20. This represents a ∞ increase in their position. Insiders own 47.12% of the company’s stock.

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.