Hydro One (TSE:H) Hits New 1-Year High - What's Next?

Hydro One Limited (TSE:H - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$48.75 and last traded at C$48.74, with a volume of 115631 shares. The stock had previously closed at C$48.46.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on H shares. CIBC raised their price target on Hydro One from C$45.00 to C$46.00 and gave the company a "neutral" rating in a report on Wednesday, January 8th. Scotiabank upped their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada raised their price target on shares of Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of C$45.43.

Hydro One Stock Down 0.1 %

The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. The company has a market capitalization of C$29.37 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The company's fifty day moving average is C$45.65 and its 200-day moving average is C$45.38.

Hydro One Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.3142 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Hydro One's previous quarterly dividend of $0.31. Hydro One's payout ratio is 66.44%.

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Insider Buying and Selling at Hydro One

In other Hydro One news, Director Stacey Mowbray bought 700 shares of Hydro One stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the acquisition, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. This represents a ∞ increase in their position. 47.12% of the stock is currently owned by insiders.

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.