Hydro One (TSE:H) Sets New 1-Year High – Should You Buy?

Hydro One Limited (TSE:H)’s stock price reached a new 52-week high on Friday . The company traded as high as C$54.48 and last traded at C$54.42, with a volume of 63785 shares. The stock had previously closed at C$54.13.

Analysts Set New Price Targets

A number of analysts have issued reports on H shares. Desjardins set a C$58.00 target price on Hydro One and gave the company a “buy” rating in a research report on Tuesday, August 12th. Raymond James Financial lifted their price objective on Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a research note on Friday, October 24th. TD Securities boosted their price objective on Hydro One from C$52.00 to C$54.00 and gave the company a “hold” rating in a report on Thursday, August 14th. CIBC raised their target price on Hydro One from C$52.00 to C$54.00 in a report on Tuesday, October 21st. Finally, National Bankshares lifted their target price on Hydro One from C$47.00 to C$48.00 and gave the company a “sector perform” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$51.75.

Hydro One Stock Up 1.1%

The business has a 50-day simple moving average of C$51.17 and a 200-day simple moving average of C$50.21. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. The company has a market cap of C$32.81 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 3.17 and a beta of 0.31.

Hydro One (TSE:H) last announced its quarterly earnings data on Thursday, November 13th. The company reported C$0.70 EPS for the quarter. The business had revenue of C$1.22 billion during the quarter. Hydro One had a return on equity of 9.58% and a net margin of 13.59%. On average, equities analysts anticipate that Hydro One Limited will post 2.0572195 earnings per share for the current fiscal year.

Hydro One Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were issued a $0.3331 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, September 10th. Hydro One’s dividend payout ratio (DPR) is presently 59.66%.

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.