BMO Capital Markets Issues Positive Forecast for Hydro One (TSE:H) Stock Price

Hydro One (TSE:H) had its price target raised by equities researchers at BMO Capital Markets from C$55.00 to C$58.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential downside of 1.58% from the company’s previous close.

H has been the subject of a number of other research reports. Raymond James Financial increased 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 decreased their price target on Hydro One from C$66.00 to C$63.00 in a research report on Friday, April 10th. Scotia increased their price target on Hydro One from C$53.00 to C$58.00 and gave the company a “sector perform” rating in a research report on Thursday. Jefferies Financial Group decreased their price target on Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. Finally, TD Securities increased their price target on Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a research 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, Hydro One presently has an average rating of “Hold” and a consensus target price of C$56.64.

Hydro One Price Performance

TSE:H traded up C$0.16 during mid-day trading on Thursday, reaching C$58.93. 141,195 shares of the stock were exchanged, compared to its average volume of 1,181,030. The business has a fifty day moving average price of C$58.38 and a 200 day moving average price of C$55.55. The firm has a market capitalization of C$35.36 billion, a PE ratio of 26.43, a PEG ratio of 3.17 and a beta of 0.38. Hydro One has a 1-year low of C$47.54 and a 1-year high of C$60.46. 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 released its earnings results on Wednesday, May 13th. The company reported C$0.65 earnings per share (EPS) for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%.The firm had revenue of C$1.22 billion for the quarter. Research analysts expect that Hydro One will post 2.0572195 earnings per share for the current fiscal 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.