Hydro One (TSE:H) Stock Price Crosses Above Fifty Day Moving Average - Here's Why

Hydro One Limited (TSE:H - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$47.08 and traded as high as C$48.44. Hydro One shares last traded at C$48.43, with a volume of 665,314 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on H shares. CIBC increased their target price on Hydro One from C$46.00 to C$49.00 in a report on Friday, April 4th. Jefferies Financial Group upped their price target on shares of Hydro One from C$45.00 to C$49.00 and gave the stock a "hold" rating in a report on Tuesday. Scotiabank lifted their price objective 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, Royal Bank of Canada upped their target price on Hydro One from C$43.00 to C$46.00 in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of C$46.25.

Hydro One Stock Up 0.8 %

The firm has a market cap of C$29.83 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 3.17 and a beta of 0.34. The firm has a 50 day moving average of C$47.17 and a 200 day moving average of C$45.67. 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 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 issued a dividend of $0.3142 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.26 annualized dividend and a dividend yield of 2.53%. This is a positive change from Hydro One's previous quarterly dividend of $0.31. Hydro One's dividend payout ratio is currently 66.44%.

Remove Ads

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.