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

Key Points

• Technical signal: Hydro One's stock briefly dipped below its 50-day moving average intraday, trading as low as C$56.22 versus the 50-day MA of C$56.27, on volume of about 1.32 million shares.
• Analyst view: The consensus rating is "Hold" with an average price target of C$53.35 after recent adjustments by multiple firms (targets ranging roughly C$50–C$57).
• Dividend and balance-sheet snapshot: The company pays a quarterly dividend (C$0.3331, annualized yield ~2.3%, ex-dividend Mar 11) and has a market cap of C$34.24B, P/E ~25.6 and a high debt-to-equity ratio (~151.7).

Hydro One Limited (TSE:H - Get Free Report)'s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$56.27 and traded as low as C$56.22. Hydro One shares last traded at C$57.09, with a volume of 1,319,119 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on H shares. National Bank Financial raised their price target on Hydro One from C$49.00 to C$53.00 and gave the stock a "sector perform" rating in a research report on Wednesday, December 17th. TD Securities boosted their price objective on Hydro One from C$56.00 to C$57.00 and gave the company a "hold" rating in a research report on Wednesday, February 18th. Jefferies Financial Group lowered their target price on Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th. Finally, Scotiabank raised their target price on shares of Hydro One from C$51.00 to C$53.00 in a report on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$53.35.

Hydro One Stock Performance

The stock's 50 day moving average is C$56.27 and its two-hundred day moving average is C$53.58. The stock has a market capitalization of C$34.24 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 3.17 and a beta of 0.33. The company has a current ratio of 0.61, a quick ratio of 0.30 and a debt-to-equity ratio of 151.72.

Hydro One (TSE:H - Get Free Report) last released its quarterly earnings results on Friday, February 13th. The company reported C$0.39 earnings per share (EPS) for the quarter. The firm had revenue of C$981.00 million for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%. Analysts expect that Hydro One Limited will post 2.0572195 earnings per share for the current fiscal year.

Hydro One Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be given a $0.3331 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, March 11th. Hydro One's dividend payout ratio (DPR) is currently 58.90%.

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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