Hydro One (TSE:H) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Hydro One Limited (TSE:H)’s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty 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 changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Scotiabank raised their price target on 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. CIBC raised their target price on shares of Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Finally, 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. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hydro One currently has an average rating of “Hold” and a consensus price target of C$45.86.

Hydro One Stock Up 2.1 %

The stock has a fifty day moving average price of C$47.08 and a 200-day moving average price of C$45.66. 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 firm has a market cap of C$29.04 billion, a PE ratio of 25.54, a PEG ratio of 3.17 and a beta of 0.34.

Hydro One Increases Dividend

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

Hydro One Company Profile

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.