Hydro One Limited (TSE:H) Receives Consensus Recommendation of “Hold” from Brokerages

Hydro One Limited (TSE:H) has earned an average recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$57.09.

Several brokerages recently weighed in on H. Raymond James Financial upped their price target on Hydro One from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. BMO Capital Markets upped their price target on Hydro One from C$55.00 to C$58.00 and gave the stock a “market perform” rating in a research note on Thursday, May 14th. Scotia upped their price target on Hydro One from C$53.00 to C$58.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 14th. National Bank Financial upped their price target on 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. Finally, TD upped their price target on Hydro One from C$57.00 to C$58.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th.

Hydro One Price Performance

Shares of H stock opened at C$56.00 on Friday. The stock has a market cap of C$33.61 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 3.17 and a beta of 0.35. The business’s fifty day moving average is C$57.80 and its 200 day moving average is C$56.34. Hydro One has a twelve month low of C$47.54 and a twelve month high of C$60.46. The company has a quick ratio of 0.30, a current ratio of 0.54 and a debt-to-equity ratio of 149.17.

Hydro One (TSE:H) last issued its quarterly earnings results on Wednesday, May 13th. The company reported C$0.65 earnings per share for the quarter. The company had revenue of C$1.22 billion for the quarter. Hydro One had a return on equity of 10.87% and a net margin of 14.78%. Research analysts expect that Hydro One will post 2.0572195 EPS for the current fiscal year.

Hydro One Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be issued a $0.3531 dividend. This represents a $1.41 annualized dividend and a yield of 2.5%. This is a positive change from Hydro One’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, June 10th. 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.