Hydro One (TSE:H) Stock Price Passes Above 50 Day Moving Average - Time to Sell?

Key Points

• Hydro One shares rose above their 50-day moving average, trading as high as C$60.21 and last changing hands at C$60.19, up about 1% on the session.
• Analyst sentiment remains cautious overall: the stock has an average "Hold" rating, with two Buy ratings, six Hold ratings, and one Sell rating. The consensus price target is C$57.09, below the recent trading level.
• The company recently increased its quarterly dividend to C$0.3531 per share, which works out to an annualized yield of about 2.3%. Hydro One also reported quarterly EPS of C$0.65 on revenue of C$1.22 billion.

Hydro One Limited (TSE:H - Get Free Report)'s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$58.01 and traded as high as C$60.21. Hydro One shares last traded at C$60.19, with a volume of 693,017 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on H shares. Jefferies Financial Group downgraded shares of Hydro One from a "hold" rating to a "moderate sell" rating in a research report on Monday, June 1st. Raymond James Financial raised their price objective on shares of Hydro One from C$57.00 to C$58.00 and gave the company a "market perform" rating in a research report on Tuesday, April 28th. National Bank Financial boosted 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. Scotia upped their target price on shares of Hydro One from C$53.00 to C$58.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 14th. Finally, Barclays decreased their price target on shares of Hydro One from C$66.00 to C$63.00 in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of C$57.09.

Hydro One Stock Up 1.0%

The company has a debt-to-equity ratio of 149.17, a current ratio of 0.54 and a quick ratio of 0.30. The firm has a market cap of C$36.12 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The firm has a 50 day moving average price of C$58.01 and a 200-day moving average price of C$57.25.

Hydro One (TSE:H - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported C$0.65 EPS for the quarter. The firm had revenue of C$1.22 billion during the quarter. Hydro One had a return on equity of 10.87% and a net margin of 14.78%. As a group, equities analysts predict that Hydro One Limited will post 2.0572195 EPS for the current fiscal year.

Hydro One Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.3531 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.41 annualized dividend and a dividend yield of 2.3%. This is a positive change from Hydro One's previous quarterly dividend of $0.33. Hydro One's dividend payout ratio is presently 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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