TD Securities Boosts Hydro One (TSE:H) Price Target to C$57.00

Hydro One (TSE:H) had its target price hoisted by investment analysts at TD Securities from C$56.00 to C$57.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ target price would suggest a potential upside of 0.76% from the company’s current price.

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

Hydro One Trading Down 1.3%

Shares of H traded down C$0.77 during mid-day trading on Wednesday, reaching C$56.57. The company had a trading volume of 426,890 shares, compared to its average volume of 896,239. Hydro One has a fifty-two week low of C$43.30 and a fifty-two week high of C$57.63. The firm has a fifty day simple moving average of C$53.94 and a 200-day simple moving average of C$52.18. The stock has a market cap of C$33.93 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 3.17 and a beta of 0.22. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53.

Hydro One (TSE:H) last issued its earnings results on Friday, February 13th. The company reported C$0.39 earnings per share for the quarter. Hydro One had a return on equity of 9.58% and a net margin of 13.59%.The business had revenue of C$981.00 million for the quarter. On average, sell-side analysts anticipate that Hydro One will post 2.0572195 EPS for the current fiscal 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.