Hydro One Limited (TSE:H) Given Average Recommendation of “Hold” by Analysts

Hydro One Limited (TSE:H – Get Free Report) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$57.09.

Several equities analysts recently weighed in on H shares. TD raised their target price on shares of Hydro One from C$57.00 to C$58.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. BMO Capital Markets raised their price objective on Hydro One from C$55.00 to C$58.00 and gave the company a “market perform” rating in a research report on Thursday, May 14th. National Bank Financial lifted their target price on Hydro One from C$56.00 to C$61.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Jefferies Financial Group cut Hydro One from a “hold” rating to a “moderate sell” rating in a report on Monday, June 1st. Finally, Raymond James Financial increased their target price 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.

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Hydro One Price Performance

Shares of H opened at C$56.54 on Monday. The business’s 50 day moving average is C$57.92 and its 200 day moving average is C$57.60. 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 has a 12-month low of C$48.22 and a 12-month high of C$60.57. The company has a market capitalization of C$33.93 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 3.17 and a beta of 0.35.

Hydro One (TSE:H – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported C$0.65 earnings per share for the quarter. The business had revenue of C$1.22 billion during the quarter. Hydro One had a return on equity of 10.87% and a net margin of 14.78%. Research analysts expect that Hydro One will post 2.0572195 earnings per share for the current fiscal year.

Hydro One Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.3531 dividend. This represents a $1.41 dividend on an annualized basis 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 payout ratio is 58.44%.

About Hydro One

(Get Free Report)

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.

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