Hydro One (TSE:H) Price Target Raised 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 - Get Free Report) had its price target lifted by equities researchers at TD Securities from C$52.00 to C$54.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD Securities' price objective points to a potential upside of 6.51% from the company's current price.

H has been the subject of a number of other research reports. CIBC reduced their price objective on Hydro One from C$52.00 to C$51.00 in a report on Monday, July 21st. Wells Fargo & Company boosted their price objective on shares of Hydro One from C$47.00 to C$52.00 in a research report on Friday, May 9th. Raymond James Financial lowered their price objective on shares of Hydro One from C$48.00 to C$45.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. BMO Capital Markets upped their price target on shares of Hydro One from C$46.00 to C$50.00 and gave the stock a "market perform" rating in a report on Friday, May 9th. Finally, Desjardins set a C$58.00 target price on Hydro One and gave the stock a "buy" rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$51.00.

Hydro One Trading Up 0.6%

H stock traded up C$0.29 during midday trading on Thursday, hitting C$50.70. 268,915 shares of the company's stock were exchanged, compared to its average volume of 1,001,420. The stock's fifty day moving average price is C$49.16 and its 200-day moving average price is C$48.70. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58. The company has a market cap of C$30.40 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a one year low of C$42.52 and a one year high of C$53.98.

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.

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