Hydro One (TSE:H) was downgraded by Canaccord Genuity from a “buy” rating to a “hold” rating in a report released on Wednesday, March 28th. They currently have a C$23.00 price target on the stock, down from their previous price target of C$24.00. Canaccord Genuity’s price target points to a potential upside of 9.79% from the stock’s current price.
Other research analysts have also issued research reports about the company. TD Securities cut their price target on Hydro One from C$23.00 to C$22.00 in a report on Wednesday, February 14th. BMO Capital Markets dropped their target price on Hydro One from C$24.50 to C$23.50 in a report on Tuesday, February 6th. Raymond James Financial dropped their target price on Hydro One from C$26.00 to C$25.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Royal Bank of Canada dropped their target price on Hydro One from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, National Bank Financial dropped their target price on Hydro One from C$25.00 to C$24.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of C$24.77.
TSE H traded down C$0.15 during trading hours on Wednesday, hitting C$20.95. 412,676 shares of the company’s stock were exchanged, compared to its average volume of 712,843. Hydro One has a 1-year low of C$20.10 and a 1-year high of C$24.66.
Hydro One (TSE:H) last released its earnings results on Tuesday, February 13th. The company reported C$0.28 EPS for the quarter, topping the consensus estimate of C$0.26 by C$0.02. The business had revenue of C$1.44 billion during the quarter. Hydro One had a return on equity of 6.38% and a net margin of 11.26%.
About Hydro One
Hydro One Limited, through its subsidiaries, operates as an electrical transmission and distribution company in Ontario. It operates through three segments: Transmission, Distribution, and Other Business. The company owns and operates approximately 30,000 circuit kilometers of high-voltage transmission network and 123,000 circuit kilometers of low-voltage distribution network; and 308 transmission stations.
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