Hydro One (TSE:H) Shares Cross Below 50 Day Moving Average - Should You Sell?

Hydro One Limited (TSE:H - Get Free Report)'s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$49.82 and traded as low as C$49.56. Hydro One shares last traded at C$49.66, with a volume of 940,868 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on H. Jefferies Financial Group raised their price objective on shares of Hydro One from C$45.00 to C$49.00 and gave the stock a "hold" rating in a report on Tuesday, April 15th. Royal Bank of Canada raised their price objective on shares of Hydro One from C$46.00 to C$53.00 in a report on Friday, May 9th. Scotiabank raised their price objective on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Raymond James reduced their price objective on shares of Hydro One from C$48.00 to C$45.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Finally, Wells Fargo & Company raised their price objective on shares of Hydro One from C$47.00 to C$52.00 in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$49.67.

Hydro One Stock Performance

The firm's 50-day moving average price is C$50.03 and its 200 day moving average price is C$46.82. 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 company has a market cap of C$30.33 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.17 and a beta of 0.34.

Hydro One Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a dividend of $0.3142 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.26 dividend on an annualized basis and a yield of 2.48%. This is a boost 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.