Hydro One Limited (TSE:H) to Issue Dividend Increase - $0.33 Per Share

Hydro One Limited (TSE:H - Get Free Report) declared a quarterly dividend on Wednesday, June 11th, TickerTech Dividends reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.3331 per share on Monday, June 30th. This represents a $1.33 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, June 11th. This is a 6.0% increase from Hydro One's previous quarterly dividend of $0.31.

Hydro One Trading Up 1.2%

Shares of Hydro One stock traded up C$0.57 on Thursday, hitting C$49.12. The stock had a trading volume of 3,058,283 shares, compared to its average volume of 1,103,798. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. Hydro One has a one year low of C$38.24 and a one year high of C$53.98. The stock has a market cap of C$29.45 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.17 and a beta of 0.34. The stock's 50-day simple moving average is C$50.33 and its two-hundred day simple moving average is C$47.31.

Wall Street Analysts Forecast Growth

Several brokerages have commented on H. Raymond James lowered their price objective on 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. CIBC raised their price objective on Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Scotiabank raised their price objective on Hydro One from C$45.00 to C$46.00 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. Wells Fargo & Company raised their price objective on Hydro One from C$47.00 to C$52.00 in a research report on Friday, May 9th. Finally, Desjardins set a C$58.00 price objective on Hydro One and gave the company a "buy" rating in a research report on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hydro One currently has a consensus rating of "Hold" and a consensus target price of C$49.67.

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.