Hydro One (TSE:H) Hits New 12-Month High - Still a Buy?

Hydro One Limited (TSE:H - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$52.09 and last traded at C$51.87, with a volume of 512786 shares trading hands. The stock had previously closed at C$51.58.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. CIBC raised their price target on Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Jefferies Financial Group lifted their target price on shares of Hydro One from C$45.00 to C$49.00 and gave the stock a "hold" rating in a research report on Tuesday, April 15th. Royal Bank of Canada increased their price target on shares of Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Raymond James reduced their target price on Hydro One from C$48.00 to C$45.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, Scotiabank upped 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. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Hydro One presently has a consensus rating of "Hold" and an average price target of C$46.25.

Hydro One Stock Performance

The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The company has a market capitalization of C$31.35 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The stock has a 50-day simple moving average of C$48.96 and a 200-day simple moving average of C$46.24.

Hydro One Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.3142 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, March 12th. 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.