Hydro One (TSE:H) Reaches New 52-Week High - Here's Why

Hydro One Limited (TSE:H - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock 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.

Analyst Upgrades and Downgrades

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

Hydro One Stock Down 0.1 %

The stock has a market cap of C$29.03 billion, a price-to-earnings ratio of 25.53, a PEG 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. The business's fifty day moving average is C$46.74 and its two-hundred day moving average is C$45.62.

Hydro One Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a dividend of $0.3142 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This is an increase from Hydro One's previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.60%. Hydro One's payout ratio is currently 66.44%.

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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.