Hydro One (TSE:H) Stock Crosses Below Fifty Day Moving Average – What’s Next?

Hydro One Limited (TSE:H) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$58.28 and traded as low as C$57.93. Hydro One shares last traded at C$58.04, with a volume of 1,140,815 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Scotia upped their price objective on shares of Hydro One from C$53.00 to C$58.00 and gave the company a “sector perform” rating in a report on Thursday, May 14th. TD Securities boosted their target price on shares of Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a research report on Wednesday, February 18th. National Bank Financial increased their price target on Hydro One from C$55.00 to C$56.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. Raymond James Financial lifted their price objective on Hydro One from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Finally, TD boosted their price objective on Hydro One from C$57.00 to C$58.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$56.64.

Hydro One Stock Performance

The company has a current ratio of 0.54, a quick ratio of 0.30 and a debt-to-equity ratio of 149.17. The firm’s fifty day moving average price is C$58.28 and its two-hundred day moving average price is C$56.08. The stock has a market capitalization of C$34.83 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.17 and a beta of 0.38.

Hydro One (TSE:H) last announced 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 net margin of 14.78% and a return on equity of 10.87%. The firm had revenue of C$1.22 billion for the quarter. As a group, equities research analysts forecast that Hydro One Limited will post 2.0572195 EPS for the current year.

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a dividend of $0.3331 per share. The ex-dividend date was Wednesday, March 11th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.3%. Hydro One’s dividend payout ratio (DPR) is 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.