Hydro One (TSE:H) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised Hydro One’s price target to C$60 from C$58 while maintaining a “sector perform” rating, implying 6.4% upside from the current price.
• Analyst sentiment remains broadly neutral: Hydro One has an average “Hold” rating and a consensus target of C$57.09, with ratings spanning one Buy, seven Holds, and one Sell.
• 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 objective lifted by equities research analysts at Royal Bank Of Canada from C$58.00 to C$60.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 6.40% from the stock's current price.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group downgraded shares of Hydro One from a "hold" rating to a "moderate sell" rating in a research note on Monday, June 1st. Scotia increased their price target on shares of Hydro One from C$53.00 to C$58.00 and gave the company a "sector perform" rating in a research report on Thursday, May 14th. National Bank Financial raised their price target on shares of Hydro One from C$56.00 to C$61.00 and gave the stock a "sector perform" rating in a report on Monday, June 1st. Barclays decreased their price objective on shares of Hydro One from C$63.00 to C$61.00 in a research report on Thursday. Finally, BMO Capital Markets increased their target price on shares of Hydro One from C$55.00 to C$58.00 and gave the stock a "market perform" rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Hydro One presently has an average rating of "Hold" and an average target price of C$57.09.

Hydro One Trading Down 0.6%

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

Hydro One (TSE:H - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported C$0.62 EPS for the quarter. Hydro One had a return on equity of 10.87% and a net margin of 14.78%.The business had revenue of C$1.23 billion for the quarter. Analysts predict that Hydro One will post 2.0572195 earnings per share for the current fiscal 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.

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