Hydro One (TSE:H) Stock Passes Below Fifty Day Moving Average – Should You Sell?

Shares of Hydro One Limited (TSE:H) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$44.43 and traded as low as C$43.30. Hydro One shares last traded at C$43.98, with a volume of 1,426,564 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. 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. Scotiabank upped their price target on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Finally, CIBC boosted their price objective on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Hydro One currently has a consensus rating of “Hold” and a consensus price target of C$45.43.

Hydro One Trading Up 1.3 %

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 firm’s 50 day simple moving average is C$44.43 and its 200-day simple moving average is C$44.91. The company has a market capitalization of C$26.72 billion, a PE ratio of 23.50, a P/E/G ratio of 3.17 and a beta of 0.34.

Hydro One Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.314 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.26 annualized dividend and a yield of 2.82%. Hydro One’s dividend payout ratio is currently 66.44%.

Insider Activity

In other news, Director Stacey Mowbray bought 700 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the completion of the purchase, the director now owns 700 shares of the company’s stock, valued at C$30,818.20. This trade represents a ∞ increase in their ownership of the stock. Insiders own 47.12% of the company’s stock.

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.