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

Hydro One Limited (TSE:H) has been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$57.09.

H has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on shares of Hydro One from C$55.00 to C$58.00 and gave the stock a “market perform” rating in a research report on Thursday, May 14th. Barclays cut their price objective on shares of Hydro One from C$66.00 to C$63.00 in a research report on Friday, April 10th. Raymond James Financial boosted their target price on shares of Hydro One from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. TD increased their price target on shares of Hydro One from C$57.00 to C$58.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Finally, TD Securities lifted their price objective 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.

Hydro One Stock Up 0.7%

Hydro One stock opened at C$56.69 on Friday. The stock has a market capitalization of C$34.02 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.17 and a beta of 0.35. 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. The company has a 50 day moving average of C$57.99 and a 200-day moving average of C$56.28.

Hydro One (TSE:H) last released 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 during the quarter. Hydro One had a net margin of 14.78% and a return on equity of 10.87%. On average, equities research analysts anticipate that Hydro One will post 2.0572195 EPS for the current fiscal year.

Hydro One Increases Dividend

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