Hydro One (TSE:H) Reaches New 52-Week High – Should You Buy?

Shares of Hydro One Limited (TSE:H) hit a new 52-week high during trading on Thursday . The company traded as high as C$50.35 and last traded at C$49.99, with a volume of 122028 shares traded. The stock had previously closed at C$49.10.

Wall Street Analyst Weigh In

Several analysts have issued reports on H shares. Royal Bank of Canada upped their price target on shares of Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Scotiabank raised their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Finally, CIBC boosted their price target on Hydro One from C$46.00 to C$49.00 in a research report on Friday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Hydro One has a consensus rating of “Hold” and an average target price of C$45.86.

Hydro One Trading Down 2.6 %

The firm’s fifty day simple moving average is C$46.67 and its 200 day simple moving average is C$45.61. The stock has a market capitalization of C$29.42 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58.

Hydro One Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a $0.3142 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $1.26 dividend on an annualized basis and a yield of 2.56%. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. Hydro One’s dividend payout ratio (DPR) 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.