Hydro One Limited (TSE:H) Receives Average Rating of "Hold" from Brokerages

Shares of Hydro One Limited (TSE:H - Get Free Report) have received an average rating of "Hold" from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$49.67.

H has been the subject of a number of research reports. BMO Capital Markets lifted their target price on Hydro One from C$46.00 to C$50.00 and gave the stock a "market perform" rating in a report on Friday, May 9th. Raymond James reduced their price target on shares of Hydro One from C$48.00 to C$45.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company upped their price objective on shares of Hydro One from C$47.00 to C$52.00 in a report on Friday, May 9th. CIBC increased their price objective on shares of Hydro One from C$46.00 to C$49.00 in a research note on Friday, April 4th. Finally, Royal Bank of Canada raised their target price on shares of Hydro One from C$46.00 to C$53.00 in a report on Friday, May 9th.

Hydro One Stock Down 0.8%

H stock traded down C$0.42 on Wednesday, hitting C$49.44. 1,233,405 shares of the company's stock were exchanged, compared to its average volume of 1,008,809. The firm has a 50 day moving average price of C$50.36 and a two-hundred day moving average price of C$47.22. Hydro One has a 12-month low of C$38.24 and a 12-month high of C$53.98. The stock has a market cap of C$29.64 billion, a P/E ratio of 26.07, 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 quick ratio of 0.30 and a current ratio of 0.58.

Hydro One Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be given a $0.3331 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Wednesday, June 11th. This is an increase from Hydro One's previous quarterly dividend of $0.31. Hydro One's dividend payout ratio (DPR) is 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.