Hydro One Limited (TSE:H) Given Consensus Recommendation of “Hold” by Brokerages

Hydro One Limited (TSE:H) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$49.67.

Several brokerages have recently weighed in on H. Royal Bank of Canada upped their price objective on Hydro One from C$46.00 to C$53.00 in a report on Friday. BMO Capital Markets upped their price target on shares of Hydro One from C$46.00 to C$50.00 and gave the company a “market perform” rating in a report on Friday. Wells Fargo & Company lifted their price objective on shares of Hydro One from C$47.00 to C$52.00 in a research note on Friday. Scotiabank increased their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Finally, Raymond James decreased their price target on shares of Hydro One from C$48.00 to C$45.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th.

Hydro One Stock Performance

H opened at C$51.05 on Friday. The business has a 50 day moving average price of C$49.59 and a two-hundred day moving average price of C$46.48. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. The company has a market capitalization of C$30.61 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a 1-year low of C$38.24 and a 1-year high of C$53.98.

Hydro One Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.3142 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. Hydro One’s dividend payout ratio is presently 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.