Hydro One Limited (TSE:H) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a consensus “Hold” rating on Hydro One, with seven holds, one sell and one buy among nine brokerages. The average 12-month price target is C$57.09.
• Recent analyst actions were mixed: National Bank Financial and RBC raised their targets, while Barclays cut its target and Jefferies downgraded the stock to “moderate sell.”
• Hydro One reported quarterly EPS of C$0.62 on C$1.23 billion in revenue and increased its quarterly dividend to C$0.3531, implying a 2.7% annualized yield.

Shares of Hydro One Limited (TSE:H - Get Free Report) have received an average rating of "Hold" from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$57.09.

A number of equities analysts have recently commented on the company. National Bank Financial boosted their price target 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 lowered Hydro One from a "hold" rating to a "moderate sell" rating in a research note on Monday, June 1st. Barclays decreased their target price on Hydro One from C$63.00 to C$61.00 in a research report on Thursday, August 13th. Royal Bank Of Canada boosted their target price on Hydro One from C$58.00 to C$60.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 13th. Finally, TD increased their target price on shares of Hydro One from C$57.00 to C$58.00 and gave the stock a "hold" rating in a report on Thursday, May 14th.

Hydro One Trading Down 1.0%

Shares of Hydro One stock opened at C$52.99 on Friday. The company has a market capitalization of C$31.80 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.17 and a beta of 0.35. The company has a quick ratio of 0.30, a current ratio of 0.88 and a debt-to-equity ratio of 154.61. Hydro One has a 12-month low of C$48.22 and a 12-month high of C$60.57. The firm's 50-day moving average price is C$57.50 and its two-hundred day moving average price is C$57.71.

Hydro One (TSE:H - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$0.62 EPS for the quarter. The business had revenue of C$1.23 billion during the quarter. Hydro One had a net margin of 14.87% and a return on equity of 11.08%. On average, analysts forecast 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. Shareholders of record on Tuesday, June 30th were given a $0.3531 dividend. This is an increase from Hydro One's previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, June 10th. This represents a $1.41 annualized dividend and a yield of 2.7%. Hydro One's dividend payout ratio is currently 57.31%.

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. The province of Ontario holds an approximate 47% common equity stake.

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