Hydro One (TSE:H) Sets New 12-Month High Following Analyst Upgrade

Hydro One Limited (TSE:H) reached a new 52-week high during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from C$42.00 to C$46.00. The company traded as high as C$44.80 and last traded at C$44.74, with a volume of 21530 shares traded. The stock had previously closed at C$44.57.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets downgraded Hydro One from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th. National Bankshares raised their target price on shares of Hydro One from C$39.00 to C$40.00 in a research note on Thursday, August 15th. CIBC lifted their target price on shares of Hydro One from C$41.00 to C$44.00 in a report on Thursday, August 15th. Finally, Scotiabank decreased their price target on shares of Hydro One from C$40.00 to C$38.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$41.38.

Hydro One Trading Up 0.2 %

The business’s fifty day moving average is C$41.31 and its two-hundred day moving average is C$40.36. The company has a quick ratio of 0.30, a current ratio of 0.40 and a debt-to-equity ratio of 137.11. The firm has a market cap of C$26.78 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 3.14 and a beta of 0.34.

Hydro One Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.314 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.26 dividend on an annualized basis and a yield of 2.81%. Hydro One’s payout ratio is presently 67.38%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.