TD Securities Raises Hydro One (TSE:H) Price Target to C$54.00

Key Points

• Hydro One's price target has been raised by TD Securities from C$52.00 to C$54.00, indicating a potential upside of 6.51% based on the current stock price.
• The company currently holds a "hold" rating from multiple analysts, with eight maintaining this rating and one issuing a buy rating.
• Hydro One, Ontario's largest electricity provider, serves nearly 1.5 million customers, with its transmission segment accounting for about 60% of the company's revenue base.

Hydro One (TSE:H - Free Report) had its price objective increased by TD Securities from C$52.00 to C$54.00 in a research report report published on Thursday,BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

A number of other research analysts have also recently commented on H. Desjardins set a C$58.00 price target on shares of Hydro One and gave the company a "buy" rating in a research report on Tuesday, August 12th. Raymond James Financial reduced 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. Royal Bank Of Canada increased their price target on shares of Hydro One from C$46.00 to C$53.00 in a research report on Friday, May 9th. BMO Capital Markets increased their price target on shares of Hydro One from C$46.00 to C$50.00 and gave the company a "market perform" rating in a research report on Friday, May 9th. Finally, CIBC reduced their price target on shares of Hydro One from C$52.00 to C$51.00 in a research report on Monday, July 21st. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Hydro One currently has a consensus rating of "Hold" and a consensus price target of C$51.00.

Hydro One Price Performance

H traded down C$0.20 on Thursday, reaching C$50.59. The company had a trading volume of 927,663 shares, compared to its average volume of 1,001,733. The business has a 50 day simple moving average of C$49.27 and a 200 day simple moving average of C$48.89. The company has a market cap of C$30.33 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 3.17 and a beta of 0.34. 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 52-week low of C$42.52 and a 52-week high of C$53.98.

Hydro One Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.3331 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.6%. Hydro One's dividend payout ratio (DPR) is 66.44%.

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.