Hydro One (TSE:H) Price Target Raised to C$57.00

Hydro One (TSE:H) had its price objective increased by TD Securities from C$56.00 to C$57.00 in a report issued on Wednesday,BayStreet.CA reports. They currently have a hold rating on the stock.

Other research analysts also recently issued reports about the company. Scotiabank raised their price objective on Hydro One from C$51.00 to C$53.00 in a research note on Tuesday, December 16th. Canadian Imperial Bank of Commerce lifted their price target on shares of Hydro One from C$52.00 to C$54.00 in a research report on Tuesday, October 21st. Jefferies Financial Group reduced their price objective on shares of Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th. Raymond James Financial upped their price objective on shares of Hydro One from C$49.00 to C$53.50 and gave the stock a “market perform” rating in a report on Friday, October 24th. Finally, National Bank Financial lifted their target price on shares of Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$53.35.

Hydro One Trading Down 0.3%

TSE:H opened at C$56.67 on Wednesday. The company has a market capitalization of C$33.99 billion, a P/E ratio of 25.41, a P/E/G ratio of 3.17 and a beta of 0.22. The stock’s 50 day moving average price is C$54.20 and its 200 day moving average price is C$52.29. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. Hydro One has a 52 week low of C$43.90 and a 52 week high of C$57.63.

Hydro One (TSE:H) last posted its earnings results on Friday, February 13th. The company reported C$0.39 EPS for the quarter. The company had revenue of C$981.00 million during the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. On average, research analysts forecast that Hydro One will post 2.0572195 EPS for the current fiscal year.

Hydro One Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a $0.3331 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, December 10th. Hydro One’s payout ratio is presently 58.90%.

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. The province of Ontario holds an approximate 47% common equity stake.