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

Key Points

• Hydro One shares fell below their 50-day moving average, trading as low as C$50.14 versus the C$56.17 average, before closing at C$51.13.
• Analyst sentiment remains cautious: Hydro One has an average “Hold” rating and a consensus price target of C$57.09, with recent target changes ranging from C$60 to C$61.
• The company reported quarterly EPS of C$0.62 on C$1.23 billion in revenue and announced a quarterly dividend of C$0.3531, equal to an annualized yield of approximately 2.8%.

Shares of Hydro One Limited (TSE:H - Get Free Report) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$56.17 and traded as low as C$50.14. Hydro One shares last traded at C$51.13, with a volume of 3,978,916 shares.

Analysts Set New Price Targets

H has been the topic of several research analyst reports. Barclays dropped their price objective on Hydro One from C$63.00 to C$61.00 in a report on Thursday, August 13th. National Bank Financial increased their target price on Hydro One from C$56.00 to C$61.00 and gave the company a "sector perform" rating in a research report on Monday, June 1st. Jefferies Financial Group cut shares of Hydro One from a "hold" rating to a "moderate sell" rating in a research note on Monday, June 1st. Finally, Royal Bank Of Canada boosted their price target on shares of Hydro One from C$58.00 to C$60.00 and gave the stock a "sector perform" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hydro One presently has an average rating of "Hold" and a consensus price target of C$57.09.

Hydro One Stock Performance

The company has a quick ratio of 0.30, a current ratio of 0.88 and a debt-to-equity ratio of 154.61. The firm has a 50-day moving average price of C$56.17 and a two-hundred day moving average price of C$57.39. The firm has a market cap of C$30.68 billion, a PE ratio of 21.67, a P/E/G ratio of 3.17 and a beta of 0.23.

Hydro One (TSE:H - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.62 EPS for the quarter. The firm had revenue of C$1.23 billion during the quarter. Hydro One had a return on equity of 11.08% and a net margin of 14.87%. Research analysts forecast that Hydro One Limited will post 2.0572195 EPS for the current fiscal year.

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be paid a $0.3531 dividend. This represents a $1.41 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, September 9th. Hydro One's dividend payout ratio (DPR) is 57.31%.

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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