Hydro One Limited (TSE:H) Given Average Rating of "Hold" by Brokerages

Hydro One Limited (TSE:H - Get Free Report) has been assigned an average rating of "Hold" from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$49.90.

A number of analysts have issued reports on the company. BMO Capital Markets raised their target price on Hydro One from C$46.00 to C$50.00 and gave the company a "market perform" rating in a report on Friday, May 9th. TD Securities raised Hydro One to a "hold" rating and set a C$52.00 price objective for the company in a report on Friday, June 27th. Desjardins set a C$58.00 target price on shares of Hydro One and gave the stock a "buy" rating in a report on Tuesday, May 6th. Royal Bank Of Canada lifted their price target on shares of Hydro One from C$46.00 to C$53.00 in a report on Friday, May 9th. Finally, Wells Fargo & Company boosted their target price on Hydro One from C$47.00 to C$52.00 in a report on Friday, May 9th.

Hydro One Stock Up 0.2%

TSE:H traded up C$0.09 during trading hours on Friday, reaching C$49.16. The company's stock had a trading volume of 1,326,598 shares, compared to its average volume of 1,069,737. Hydro One has a one year low of C$39.68 and a one year high of C$53.98. The business's 50-day moving average is C$50.25 and its 200-day moving average is C$47.62. The company has a market cap of C$29.47 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30.

Hydro One Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were given a $0.3331 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Hydro One's previous quarterly dividend of $0.31. Hydro One's payout ratio is currently 66.44%.

About Hydro One

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.