Hydro One (TSE:H) Price Target Raised to C$58.00

Key Points

• Raymond James raised its price target on Hydro One from C$57.00 to C$58.00 and maintained a “market perform” rating, with the new target implying roughly a 0.84% downside from the current share level.
• Analyst consensus remains mixed—two Buy and four Hold ratings—with an average target of C$54.64, reflecting cautious sentiment despite recent target adjustments by other firms.
• Hydro One is Ontario’s largest electricity provider (~1.5 million customers; the province holds ~47% equity), and its shares trade around C$58.49 with a PE of 26.23 and a high debt-to-equity ratio of 151.72.

Hydro One (TSE:H - Get Free Report) had its price target upped by equities researchers at Raymond James Financial from C$57.00 to C$58.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "market perform" rating on the stock. Raymond James Financial's target price suggests a potential downside of 0.84% from the company's current price.

H has been the topic of several other reports. TD Securities lifted their price objective on shares of Hydro One from C$56.00 to C$57.00 and gave the company a "hold" rating in a report on Wednesday, February 18th. Jefferies Financial Group dropped their target price on Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. Finally, Barclays dropped their target price on Hydro One from C$66.00 to C$63.00 in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Hydro One has an average rating of "Hold" and an average target price of C$54.64.

Hydro One Stock Performance

Shares of H traded up C$0.49 during trading hours on Tuesday, hitting C$58.49. The stock had a trading volume of 428,268 shares, compared to its average volume of 1,213,362. The company has a debt-to-equity ratio of 151.72, a current ratio of 0.61 and a quick ratio of 0.30. Hydro One has a 12 month low of C$47.54 and a 12 month high of C$60.46. The firm has a market capitalization of C$35.08 billion, a PE ratio of 26.23, a PEG ratio of 3.17 and a beta of 0.37. The stock has a fifty day moving average price of C$58.17 and a 200 day moving average price of C$55.08.

Hydro One (TSE:H - Get Free Report) last issued its quarterly earnings data on Friday, February 13th. The company reported C$0.39 EPS for the quarter. The company had revenue of C$981.00 million during the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%. Analysts anticipate that Hydro One will post 2.0572195 EPS for the current year.

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. The province of Ontario holds an approximate 47% common equity stake.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.