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

Hydro One Limited (TSE:H - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$47.08 and traded as high as C$48.44. Hydro One shares last traded at C$48.43, with a volume of 665,314 shares traded.

Wall Street Analysts Forecast Growth

H has been the subject of several recent research reports. CIBC raised their price target on shares of Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Scotiabank increased their price target 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. Royal Bank of Canada boosted their price objective on Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Finally, Jefferies Financial Group boosted their price target 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. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Hydro One presently has an average rating of "Hold" and an average target price of C$46.25.

Hydro One Stock Performance

The company has a market cap of C$30.67 billion, a PE ratio of 26.98, a P/E/G ratio of 3.17 and a beta of 0.34. The stock's 50-day simple moving average is C$47.34 and its 200 day simple moving average is C$45.73. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58.

Hydro One Increases Dividend

The firm 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. This represents a $1.26 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Wednesday, March 12th. This is a positive change from Hydro One's previous quarterly dividend of $0.31. Hydro One's dividend 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.