Hydro One Ltd (TSE:H) had its price target cut by analysts at RBC Capital Markets from C$30.00 to C$29.00 in a research note issued on Tuesday. The firm presently has an “outperform” rating on the stock. RBC Capital Markets’ price target points to a potential upside of 12.36% from the stock’s current price.
A number of other research analysts have also commented on H. Scotiabank reiterated a “sector perform” rating and set a C$25.50 price target on shares of Hydro One in a report on Friday, September 23rd. BMO Capital Markets upped their price target on Hydro One from C$24.50 to C$26.00 in a report on Thursday, July 7th. TD Securities upped their price target on Hydro One from C$24.00 to C$25.00 and gave the stock a “hold” rating in a report on Monday, August 15th. Barclays PLC set a C$27.00 price target on Hydro One in a report on Friday, June 17th. Finally, CIBC upped their price target on Hydro One from C$24.00 to C$25.00 in a report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Hydro One currently has an average rating of “Buy” and an average price target of C$26.55.
Hydro One (TSE:H) traded down 2.48% during midday trading on Tuesday, reaching $25.17. The company’s stock had a trading volume of 311,346 shares. The firm has a 50 day moving average price of $25.99 and a 200 day moving average price of $24.94. Hydro One has a 1-year low of $21.53 and a 1-year high of $26.80. The firm has a market capitalization of $14.98 billion and a PE ratio of 20.22.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 30th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Monday, September 12th.
About Hydro One
Hydro One Limited is an electricity transmission and distribution utility. The Company transmits and distributes electricity across the Province of Ontario. It operates through three segments: Transmission Business, Distribution Business and Other Business. Its Transmission Business comprises the business of transmitting high voltage electricity across the province, interconnecting over 70 local distribution companies and certain directly connected industrial customers throughout the Ontario electricity grid.
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