Hydro One (TSE:H) Hits New 52-Week High – What’s Next?

Hydro One Limited (TSE:H)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$48.20 and last traded at C$47.89, with a volume of 48384 shares traded. The stock had previously closed at C$47.90.

Analyst Ratings Changes

Several equities analysts recently commented on the company. CIBC raised their target price on Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Scotiabank upped their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada lifted their price target on shares of Hydro One from C$43.00 to C$46.00 in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$45.43.

Hydro One Stock Performance

The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. The company has a market capitalization of C$29.02 billion, a P/E ratio of 25.52, a P/E/G ratio of 3.17 and a beta of 0.34. The stock’s 50 day simple moving average is C$44.92 and its two-hundred day simple moving average is C$45.15.

Hydro One Increases Dividend

The company also recently declared 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 represents a $1.26 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. Hydro One’s dividend payout ratio is 66.44%.

Insider Activity at Hydro One

In related news, Director Stacey Mowbray acquired 700 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of C$44.03 per share, for a total transaction of C$30,818.20. Following the completion of the acquisition, the director now owns 700 shares of the company’s stock, valued at C$30,818.20. This trade represents a ∞ increase in their position. 47.12% of the stock is owned by company insiders.

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.