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

Hydro One (TSE:H) had its price target raised by Raymond James Financial from C$57.00 to C$58.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. Raymond James Financial’s price target would suggest a potential downside of 0.84% from the stock’s previous close.

H has been the subject of a number of other research reports. Jefferies Financial Group reduced their price target on Hydro One from C$52.00 to C$50.00 in a report on Wednesday, January 28th. Barclays reduced their price target on Hydro One from C$66.00 to C$63.00 in a report on Friday, April 10th. Finally, TD Securities boosted their price objective on Hydro One from C$56.00 to C$57.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$54.64.

Hydro One Price Performance

TSE H traded up C$0.49 during trading hours on Tuesday, reaching C$58.49. The company’s stock had a trading volume of 428,268 shares, compared to its average volume of 1,213,362. The firm has a market capitalization of C$35.08 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 3.17 and a beta of 0.37. Hydro One has a 1-year low of C$47.54 and a 1-year high of C$60.46. The company has a debt-to-equity ratio of 151.72, a current ratio of 0.61 and a quick ratio of 0.30. The company’s 50-day moving average is C$58.17 and its two-hundred day moving average is C$55.08.

Hydro One (TSE:H) last released its quarterly earnings results on Friday, February 13th. The company reported C$0.39 earnings per share for the quarter. The company had revenue of C$981.00 million during the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%. On average, equities analysts predict that Hydro One will post 2.0572195 EPS for the current year.

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.