Hydro One (TSE:H) Sets New 12-Month High – Should You Buy?

Hydro One Limited (TSE:H)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$48.75 and last traded at C$48.74, with a volume of 115631 shares. The stock had previously closed at C$48.46.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on H shares. Scotiabank increased their price target on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Royal Bank of Canada increased their price target on shares of Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Finally, CIBC increased their price target on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$45.43.

Hydro One Price Performance

The company’s fifty day moving average is C$45.35 and its two-hundred day moving average is C$45.29. The firm has a market capitalization of C$29.23 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53.

Hydro One Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be issued a $0.3142 dividend. The ex-dividend date is Wednesday, March 12th. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a yield of 2.58%. Hydro One’s dividend payout ratio (DPR) is 66.44%.

Insiders Place Their Bets

In related news, Director Stacey Mowbray acquired 700 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the completion of the acquisition, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. The trade was a ? increase in their position. Company insiders own 47.12% of the company’s stock.

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.