Brokerages Set Hydro One Limited (TSE:H) Target Price at C$45.86

Hydro One Limited (TSE:H) has received an average rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have covered the stock in the last year is C$46.25.

A number of analysts have issued reports on the company. Scotiabank boosted their target price on Hydro One from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Royal Bank of Canada lifted their price target on shares of Hydro One from C$43.00 to C$46.00 in a research note on Friday, February 21st. Jefferies Financial Group upped their price objective on Hydro One from C$45.00 to C$49.00 and gave the stock a “hold” rating in a research report on Tuesday. CIBC increased their target price on shares of Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Finally, Raymond James cut their price target on Hydro One from C$48.00 to C$45.00 and set a “market perform” rating on the stock in a research report on Thursday.

Hydro One Stock Up 2.1 %

Shares of H opened at C$51.12 on Tuesday. The company’s 50-day moving average price is C$47.34 and its 200 day moving average price is C$45.73. The firm has a market cap of C$30.65 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a 12-month low of C$37.27 and a 12-month high of C$51.25. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53.

Hydro One Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a dividend of $0.3142 per share. This is a boost from Hydro One’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, March 12th. 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.