Hydro One Limited (TSE:H) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Hydro One has a consensus analyst rating of "Hold" from nine brokerages, with one sell, six holds, and two buys; the average 12-month price target is C$57.09.
• Recent analyst updates were mixed: Scotia and National Bank Financial raised price targets, while Barclays trimmed its target and Jefferies cut the stock to moderate sell.
• The company recently increased its quarterly dividend to C$0.3531 per share, giving an annualized yield of about 2.4%.

Hydro One Limited (TSE:H - Get Free Report) has been assigned a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$57.09.

A number of equities research analysts recently weighed in on the company. Scotia raised their price target on Hydro One from C$53.00 to C$58.00 and gave the company a "sector perform" rating in a report on Thursday, May 14th. National Bank Financial boosted their price objective on Hydro One from C$56.00 to C$61.00 and gave the stock a "sector perform" rating in a research note on Monday, June 1st. Barclays decreased their target price on Hydro One from C$66.00 to C$63.00 in a report on Friday, April 10th. Jefferies Financial Group lowered Hydro One from a "hold" rating to a "moderate sell" rating in a research note on Monday, June 1st. Finally, BMO Capital Markets lifted their price target on Hydro One from C$55.00 to C$58.00 and gave the company a "market perform" rating in a report on Thursday, May 14th.

Hydro One Price Performance

TSE:H opened at C$59.06 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.54 and a debt-to-equity ratio of 149.17. The firm has a market cap of C$35.44 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a 12 month low of C$47.54 and a 12 month high of C$60.46. The company's 50-day moving average price is C$57.87 and its two-hundred day moving average price is C$56.84.

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

Hydro One Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a $0.3531 dividend. This represents a $1.41 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, June 10th. This is a boost from Hydro One's previous quarterly dividend of $0.33. Hydro One's dividend payout ratio is 58.44%.

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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