Hydro One (TSE:H) Hits New 1-Year High on Analyst Upgrade

Hydro One Limited (TSE:HGet Rating)’s stock price hit a new 52-week high on Thursday after CIBC raised their price target on the stock from C$35.00 to C$36.00. The company traded as high as C$35.60 and last traded at C$35.60, with a volume of 196622 shares. The stock had previously closed at C$35.07.

A number of other research firms have also recently weighed in on H. CSFB cut shares of Hydro One from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from C$34.00 to C$36.00 in a report on Wednesday, April 13th. Scotiabank increased their target price on shares of Hydro One from C$32.00 to C$34.00 in a research report on Tuesday. Credit Suisse Group lowered shares of Hydro One to an “underperform” rating and set a C$34.00 target price for the company. in a research report on Wednesday, April 13th. Finally, Raymond James set a C$32.00 target price on shares of Hydro One and gave the company a “market perform” rating in a research report on Monday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$32.96.

The stock has a market cap of C$21.35 billion and a P/E ratio of 22.16. The firm’s 50-day moving average is C$33.12 and its two-hundred day moving average is C$31.99. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 134.23.

Hydro One (TSE:HGet Rating) last issued its quarterly earnings data on Friday, February 25th. The company reported C$0.26 earnings per share for the quarter, meeting the consensus estimate of C$0.26. The business had revenue of C$1.78 billion for the quarter. Analysts anticipate that Hydro One Limited will post 1.6909474 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, February 24th were given a $0.266 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Wednesday, February 23rd. Hydro One’s dividend payout ratio is 65.37%.

About Hydro One (TSE:H)

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. It operates through three segments: Transmission Business, Distribution Business, and Other. The company owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and 125,000 circuit kilometers of primary low-voltage distribution network.

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