Hydro One (TSE:H) Sets New 12-Month High - What's Next?

Key Points

• Hydro One reached a new 52-week high of C$60.54, up from its prior close of C$59.79, giving the company a market capitalization of approximately C$35.89 billion.
• Analyst sentiment remains largely neutral: two analysts rate the stock a Buy, six rate it Hold, and one rates it Sell. The average target price is C$57.09, below the new trading high.
• Hydro One reported quarterly EPS of C$0.65 on revenue of C$1.22 billion and increased its quarterly dividend to C$0.3531 per share, equivalent to a 2.4% annualized yield.

Hydro One Limited (TSE:H - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as C$60.54 and last traded at C$60.54, with a volume of 97087 shares traded. The stock had previously closed at C$59.79.

Analyst Ratings Changes

Several equities analysts recently issued reports on H shares. Scotia boosted their target price on shares of Hydro One from C$53.00 to C$58.00 and gave the company a "sector perform" rating in a research note on Thursday, May 14th. Jefferies Financial Group cut shares of Hydro One from a "hold" rating to a "moderate sell" rating in a report on Monday, June 1st. BMO Capital Markets upped their price objective on shares of Hydro One from C$55.00 to C$58.00 and gave the stock a "market perform" rating in a research report on Thursday, May 14th. National Bank Financial increased their target price on shares of 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. Finally, Barclays lowered their target price on shares of Hydro One from C$66.00 to C$63.00 in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of C$57.09.

Hydro One Trading Up 0.0%

The firm has a market capitalization of C$35.89 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 3.17 and a beta of 0.34. The company has a debt-to-equity ratio of 149.17, a quick ratio of 0.30 and a current ratio of 0.54. The company has a 50 day moving average price of C$58.06 and a two-hundred day moving average price of C$57.31.

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

Hydro One Increases Dividend

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