Hydro One (TSE:H) Price Target Raised to C$60.00

Hydro One (TSE:H) had its price target raised by Royal Bank Of Canada from C$58.00 to C$60.00 in a research report report published on Thursday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other brokerages also recently commented on H. Raymond James Financial lifted their target price on shares of Hydro One from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. Jefferies Financial Group cut shares of Hydro One from a “hold” rating to a “moderate sell” rating in a research report on Monday, June 1st. Barclays cut their price target on shares of Hydro One from C$63.00 to C$61.00 in a report on Thursday. Scotia boosted their price objective on shares of Hydro One from C$53.00 to C$58.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. Finally, TD upped their price objective on shares of Hydro One from C$57.00 to C$58.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$57.09.

Hydro One Price Performance

H opened at C$56.42 on Thursday. The company has a debt-to-equity ratio of 154.61, a current ratio of 0.88 and a quick ratio of 0.30. The stock’s 50 day simple moving average is C$57.91 and its 200 day simple moving average is C$57.67. The firm has a market cap of C$33.86 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 3.17 and a beta of 0.35. Hydro One has a 1 year low of C$48.22 and a 1 year high of C$60.57.

Hydro One (TSE:H) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$0.62 earnings per share for the quarter. The firm had revenue of C$1.23 billion during the quarter. Hydro One had a return on equity of 11.08% and a net margin of 14.87%. As a group, analysts predict that Hydro One will post 2.0572195 earnings per share for the current year.

Hydro One Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.3531 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Hydro One’s previous quarterly dividend of $0.33. Hydro One’s dividend payout ratio is 57.31%.

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.