Hydro One (TSE:H) Sets New 52-Week High at $47.78

Hydro One Limited (TSE:H) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$47.78 and last traded at C$47.54, with a volume of 18506 shares changing hands. The stock had previously closed at C$47.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Hydro One from C$42.00 to C$46.00 in a research note on Monday, August 19th. CIBC upped their price target on shares of Hydro One from C$41.00 to C$44.00 in a research report on Thursday, August 15th. National Bankshares boosted their price objective on shares of Hydro One from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets raised their target price on shares of Hydro One from C$42.00 to C$44.00 in a research note on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$42.25.

Hydro One Stock Performance

The company has a debt-to-equity ratio of 137.11, a current ratio of 0.40 and a quick ratio of 0.30. The stock has a market cap of C$28.64 billion, a P/E ratio of 25.55, a PEG ratio of 3.14 and a beta of 0.34. The stock has a 50-day simple moving average of C$43.66 and a 200-day simple moving average of C$41.07.

Hydro One (TSE:H) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.48 by C$0.01. Hydro One had a net margin of 13.85% and a return on equity of 9.61%. The company had revenue of C$2.03 billion during the quarter. Research analysts forecast that Hydro One Limited will post 2.0468682 earnings per share for the current year.

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.314 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Wednesday, September 11th. Hydro One’s payout ratio is 67.38%.

About Hydro One

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