Scotia Increases Hydro One (TSE:H) Price Target to C$58.00

Hydro One (TSE:H) had its price objective raised by investment analysts at Scotia from C$53.00 to C$58.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotia’s target price would suggest a potential downside of 1.58% from the company’s previous close.

A number of other research analysts have also recently weighed in on the company. Raymond James Financial raised their price target on Hydro One from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Barclays dropped their price objective on Hydro One from C$66.00 to C$63.00 in a research report on Friday, April 10th. Jefferies Financial Group reduced their target price on shares of Hydro One from C$52.00 to C$50.00 in a report on Wednesday, January 28th. Finally, TD Securities upped their target price on shares of Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$56.64.

Hydro One Price Performance

Shares of H stock traded up C$0.16 during mid-day trading on Thursday, reaching C$58.93. The stock had a trading volume of 141,195 shares, compared to its average volume of 1,181,030. Hydro One has a 12-month low of C$47.54 and a 12-month high of C$60.46. The company has a market cap of C$35.36 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 3.17 and a beta of 0.38. The business has a 50-day simple moving average of C$58.38 and a 200 day simple moving average of C$55.55. The company has a current ratio of 0.61, a quick ratio of 0.30 and a debt-to-equity ratio of 151.72.

Hydro One (TSE:H) last announced its quarterly earnings results on Wednesday, May 13th. The company reported C$0.65 earnings per share for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%.The business had revenue of C$1.22 billion during the quarter. On average, sell-side analysts anticipate that Hydro One will post 2.0572195 earnings per share for the current year.

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