Hydro One (TSE:H) Given New C$39.00 Price Target at CIBC

Hydro One (TSE:H) had its target price trimmed by CIBC from C$40.00 to C$39.00 in a research note released on Friday, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on H. TD Securities upped their price target on Hydro One from C$37.00 to C$39.00 and gave the company a hold rating in a report on Wednesday, February 14th. Raymond James boosted their price objective on Hydro One from C$40.00 to C$41.00 and gave the company a market perform rating in a research note on Wednesday, February 14th. Wells Fargo & Company boosted their price objective on Hydro One from C$39.00 to C$40.00 and gave the company an equal weight rating in a research note on Wednesday, February 14th. Royal Bank of Canada boosted their price objective on Hydro One from C$37.00 to C$41.00 and gave the company a sector perform rating in a research note on Wednesday, February 14th. Finally, National Bankshares upped their price target on Hydro One from C$35.00 to C$38.00 and gave the stock a sector perform rating in a research note on Tuesday, January 30th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of C$39.78.

Hydro One Stock Performance

Shares of H opened at C$37.80 on Friday. The stock has a 50 day moving average price of C$39.98 and a 200 day moving average price of C$38.70. The company has a quick ratio of 0.30, a current ratio of 0.50 and a debt-to-equity ratio of 133.77. The company has a market capitalization of C$22.65 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 2.90 and a beta of 0.31. Hydro One has a 52-week low of C$32.79 and a 52-week high of C$41.69.

Hydro One (TSE:H) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C$0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.30. The firm had revenue of C$1.98 billion during the quarter. Hydro One had a return on equity of 9.45% and a net margin of 13.83%. Research analysts predict that Hydro One will post 1.9103751 EPS for the current fiscal year.

Hydro One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a $0.296 dividend. This represents a $1.18 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Tuesday, March 12th. Hydro One’s payout ratio is 65.75%.

Hydro One Company Profile

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.