Hydro One Limited (TSE:H) Receives C$49.67 Consensus Target Price from Analysts

Shares of Hydro One Limited (TSE:H) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$49.67.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Hydro One from C$46.00 to C$53.00 in a report on Friday, May 9th. Raymond James lowered their price target on shares of Hydro One from C$48.00 to C$45.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. CIBC increased their price target on Hydro One from C$46.00 to C$49.00 in a research note on Friday, April 4th. Scotiabank upped their target price on Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group increased their target price on Hydro One from C$45.00 to C$49.00 and gave the company a “hold” rating in a research report on Tuesday, April 15th.

Hydro One Trading Up 0.0%

H opened at C$48.79 on Friday. The stock has a market capitalization of C$29.25 billion, a price-to-earnings ratio of 25.73, a P/E/G 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 has a twelve month low of C$38.24 and a twelve month high of C$53.98. The company has a 50-day simple moving average of C$49.71 and a 200 day simple moving average of C$46.55.

Hydro One Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a dividend of $0.3142 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Wednesday, March 12th. This is an increase from Hydro One’s previous quarterly dividend of $0.31. Hydro One’s dividend payout ratio is currently 66.44%.

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.