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

Hydro One Limited (TSE:H) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$57.09.

A number of brokerages recently commented on H. Raymond James Financial lifted their price objective on Hydro One from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. National Bank Financial raised their target price on shares of Hydro One from C$56.00 to C$61.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Barclays lowered their price target on shares of Hydro One from C$66.00 to C$63.00 in a research report on Friday, April 10th. BMO Capital Markets boosted their price target on shares of 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. Finally, Jefferies Financial Group lowered shares of Hydro One from a “hold” rating to a “moderate sell” rating in a report on Monday, June 1st.

Hydro One Stock Up 1.2%

TSE H opened at C$59.06 on Thursday. The stock has a fifty day moving average of C$57.87 and a 200-day moving average of C$56.84. The stock has a market capitalization of C$35.44 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a 52 week low of C$47.54 and a 52 week high of C$60.46. The company has a debt-to-equity ratio of 149.17, a quick ratio of 0.30 and a current ratio of 0.54.

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

Hydro One Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.3531 per share. This represents a $1.41 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, June 10th. This is a positive change from Hydro One’s previous quarterly dividend of $0.33. Hydro One’s dividend payout ratio is presently 58.44%.

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. The province of Ontario holds an approximate 47% common equity stake.