Hydro One (TSE:H) Price Target Lowered to C$61.00 at Barclays

Key Points

• Barclays lowered Hydro One’s price target from C$63 to C$61, implying approximately 8.18% upside from the reported trading price, while maintaining a broader analyst consensus of “Hold.”
• Analyst sentiment remains mixed: one analyst rates the stock Buy, seven rate it Hold, and one rates it Sell; the consensus price target is C$57.09.
• Hydro One shares fell 0.6% to C$56.39. The company recently reported quarterly EPS of C$0.62 and revenue of C$1.23 billion, and operates regulated electricity transmission and distribution assets serving nearly 1.5 million Ontario customers.

Hydro One (TSE:H - Get Free Report) had its price target reduced by analysts at Barclays from C$63.00 to C$61.00 in a report issued on Thursday,BayStreet.CA reports. Barclays's target price points to a potential upside of 8.18% from the company's current price.

H has been the subject of a number of other reports. BMO Capital Markets upped their price target on shares of Hydro One from C$55.00 to C$58.00 and gave the stock a "market perform" rating in a research report on Thursday, May 14th. Jefferies Financial Group lowered Hydro One from a "hold" rating to a "moderate sell" rating in a research report on Monday, June 1st. Scotia upped their target price on Hydro One from C$53.00 to C$58.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 14th. National Bank Financial increased their target price on Hydro One from C$56.00 to C$61.00 and gave the company a "sector perform" rating in a research note on Monday, June 1st. Finally, TD raised their target price on Hydro One from C$57.00 to C$58.00 and gave the company a "hold" rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$57.09.

Hydro One Trading Down 0.6%

H traded down C$0.36 during trading on Thursday, hitting C$56.39. 373,971 shares of the company's stock were exchanged, compared to its average volume of 1,256,641. The company has a current ratio of 0.54, a quick ratio of 0.30 and a debt-to-equity ratio of 149.17. Hydro One has a 1 year low of C$48.22 and a 1 year high of C$60.57. The stock has a 50 day moving average price of C$57.92 and a 200 day moving average price of C$57.66. The firm has a market cap of C$33.84 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 3.17 and a beta of 0.35.

Hydro One (TSE:H - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$0.62 earnings per share (EPS) for the quarter. Hydro One had a net margin of 14.78% and a return on equity of 10.87%. The company had revenue of C$1.23 billion during the quarter. As a group, analysts expect that Hydro One will post 2.0572195 EPS 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.

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