Hydro One (TSE:H) Stock Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Hydro One shares fell below their 50-day moving average of C$49.59, trading as low as C$48.42 before closing at C$48.88.
• Analysts have mixed opinions on Hydro One, with target price adjustments ranging from C$48.00 to C$58.00, reflecting a consensus rating of "Hold" with a target of C$51.00.
• The company announced a quarterly dividend of $0.3331 per share, yielding 2.7%, with a payout ratio of 61.04% set for payment on September 29th.

Hydro One Limited (TSE:H - Get Free Report)'s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$49.59 and traded as low as C$48.42. Hydro One shares last traded at C$48.88, with a volume of 2,462,403 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. National Bankshares lifted their price objective on Hydro One from C$47.00 to C$48.00 and gave the stock a "sector perform" rating in a report on Thursday, August 14th. CIBC decreased their price objective on Hydro One from C$52.00 to C$51.00 in a report on Monday, July 21st. Desjardins set a C$58.00 price target on Hydro One and gave the company a "buy" rating in a research note on Tuesday, August 12th. TD Securities boosted their price target on Hydro One from C$52.00 to C$54.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Finally, Raymond James Financial boosted their price target on Hydro One from C$48.00 to C$49.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of C$51.00.

Hydro One Trading Down 0.2%

The business has a 50 day moving average of C$49.58 and a two-hundred day moving average of C$49.61. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. The firm has a market capitalization of C$29.25 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 3.17 and a beta of 0.37.

Hydro One Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.3331 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 10th. Hydro One's payout ratio is currently 61.04%.

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.