Hydro One (TSE:H) Price Target Raised to C$53.50 at Raymond James Financial

Key Points

• Raymond James Financial has raised Hydro One's price target from C$49.00 to C$53.50, indicating a potential upside of 1.81% from its current price.
• Recent analyses show Hydro One's stock ratings are predominantly "Hold," with a consensus price target of C$51.75.
• Hydro One operates as Ontario's largest electricity provider, serving nearly 1.5 million customers, with transmission making up about 60% of its rate base.

Hydro One (TSE:H - Get Free Report) had its price target increased by analysts at Raymond James Financial from C$49.00 to C$53.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a "market perform" rating on the stock. Raymond James Financial's price target indicates a potential upside of 1.81% from the stock's current price.

H has been the subject of a number of other reports. TD Securities raised their price target on shares of Hydro One from C$52.00 to C$54.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. CIBC raised their price target on shares of Hydro One from C$52.00 to C$54.00 in a research report on Tuesday. Desjardins set a C$58.00 target price on shares of Hydro One and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, National Bankshares lifted their target price on shares of Hydro One from C$47.00 to C$48.00 and gave the company a "sector perform" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$51.75.

Hydro One Stock Performance

H traded down C$0.16 during trading on Friday, reaching C$52.55. 240,202 shares of the company's stock were exchanged, compared to its average volume of 1,008,139. Hydro One has a 1 year low of C$42.52 and a 1 year high of C$53.98. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. The stock has a market capitalization of C$31.52 billion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 3.17 and a beta of 0.30. The company's fifty day simple moving average is C$50.12 and its 200-day simple moving average is C$49.90.

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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