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

Hydro One (TSE:H - Get Free Report) had its price target reduced by CIBC from C$52.00 to C$51.00 in a research note issued on Monday,BayStreet.CA reports. CIBC's target price would indicate a potential upside of 4.66% from the stock's current price.

Several other equities analysts also recently commented on the company. Desjardins set a C$58.00 target price on Hydro One and gave the company a "buy" rating in a research report on Tuesday, May 6th. BMO Capital Markets increased 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. Royal Bank Of Canada lifted their target price on shares of Hydro One from C$46.00 to C$53.00 in a research note on Friday, May 9th. Raymond James Financial cut 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 report on Thursday, April 17th. Finally, TD Securities upgraded Hydro One to a "hold" rating and set a C$52.00 price target for the company in a report on Friday, June 27th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Hydro One presently has an average rating of "Hold" and an average target price of C$50.10.

Hydro One Stock Performance

Shares of TSE:H traded up C$0.10 on Monday, hitting C$48.73. The company had a trading volume of 432,828 shares, compared to its average volume of 1,039,091. Hydro One has a 1-year low of C$41.58 and a 1-year high of C$53.98. The stock has a market cap of C$29.22 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 3.17 and a beta of 0.34. The stock has a 50 day moving average price of C$49.37 and a 200 day moving average price of C$48.10. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53.

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.