CIBC Cuts Hydro One (TSE:H) Price Target to C$51.00

Hydro One (TSE:H - Get Free Report) had its price objective lowered by equities researchers at CIBC from C$52.00 to C$51.00 in a report released on Monday,BayStreet.CA reports. CIBC's price objective would suggest a potential upside of 5.88% from the stock's current price.

A number of other research analysts have also commented on H. Raymond James Financial decreased their price target on shares of Hydro One from C$48.00 to C$45.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets boosted their price target on Hydro One from C$46.00 to C$50.00 and gave the company a "market perform" rating in a research note on Friday, May 9th. TD Securities upgraded Hydro One to a "hold" rating and set a C$52.00 price objective on the stock in a research report on Friday, June 27th. Wells Fargo & Company boosted their target price on shares of Hydro One from C$47.00 to C$52.00 in a research report on Friday, May 9th. Finally, Royal Bank Of Canada raised their price target on shares of Hydro One from C$46.00 to C$53.00 in a research report on Friday, May 9th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$50.10.

Hydro One Stock Up 0.4%

Hydro One stock traded up C$0.17 during mid-day trading on Monday, reaching C$48.17. The company's stock had a trading volume of 330,353 shares, compared to its average volume of 1,044,042. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. Hydro One has a 12 month low of C$41.06 and a 12 month high of C$53.98. The business's 50 day simple moving average is C$49.40 and its 200 day simple moving average is C$48.07. The company has a market capitalization of C$28.88 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34.

Hydro One Company Profile

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.

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