Hydro One (TSE:H) Shares Cross Below 50 Day Moving Average of $40.02

Hydro One Limited (TSE:H) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$40.02 and traded as low as C$37.52. Hydro One shares last traded at C$37.75, with a volume of 1,196,919 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on H shares. Scotiabank upped their price objective on Hydro One from C$35.00 to C$40.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on Hydro One from C$37.00 to C$41.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Raymond James upped their price objective on Hydro One from C$40.00 to C$41.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. CIBC upped their price objective on Hydro One from C$38.00 to C$40.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Finally, Wells Fargo & Company upped their price objective on Hydro One from C$39.00 to C$40.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$39.89.

Hydro One Stock Performance

The company has a quick ratio of 0.30, a current ratio of 0.50 and a debt-to-equity ratio of 133.77. The company has a market capitalization of C$22.62 billion, a PE ratio of 20.86, a PEG ratio of 2.90 and a beta of 0.31. The firm has a 50-day moving average of C$40.02 and a two-hundred day moving average of C$38.67.

Hydro One (TSE:H) last released its quarterly earnings data on Tuesday, February 13th. The company reported C$0.30 EPS for the quarter, meeting analysts’ consensus estimates of C$0.30. Hydro One had a return on equity of 9.45% and a net margin of 13.83%. The business had revenue of C$1.98 billion for the quarter. Research analysts anticipate that Hydro One Limited will post 1.9103751 EPS for the current year.

Hydro One Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a dividend of $0.296 per share. The ex-dividend date was Tuesday, March 12th. This represents a $1.18 dividend on an annualized basis and a yield of 3.14%. Hydro One’s payout ratio is 65.75%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.