Hydro One (TSE:H) Price Target Raised to C$53.00

Hydro One (TSE:H) had its price target increased by Scotiabank from C$51.00 to C$53.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. Raymond James Financial boosted their price target on shares of Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a report on Friday, October 24th. CIBC lifted their price objective on shares of Hydro One from C$52.00 to C$54.00 in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Hydro One has an average rating of “Hold” and an average price target of C$52.95.

Hydro One Stock Up 0.8%

TSE:H opened at C$53.62 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The stock has a 50 day moving average of C$52.85 and a 200-day moving average of C$50.61. The firm has a market capitalization of C$32.16 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 3.17 and a beta of 0.25. Hydro One has a 52 week low of C$42.52 and a 52 week high of C$55.47.

Hydro One (TSE:H) last released its quarterly earnings data on Thursday, November 13th. The company reported C$0.70 earnings per share (EPS) for the quarter. The business had revenue of C$1.22 billion during the quarter. Hydro One had a return on equity of 9.58% and a net margin of 13.59%. Analysts predict that Hydro One will post 2.0572195 EPS for the current year.

Hydro One Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.3331 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, December 10th. Hydro One’s payout ratio is 59.66%.

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.