Hydro One (TSE:H) Given New C$57.00 Price Target at TD Securities

Hydro One (TSE:H) had its price objective upped by equities research analysts at TD Securities from C$56.00 to C$57.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ price target would suggest a potential upside of 0.76% from the company’s current price.

H has been the subject of a number of other reports. Scotiabank lifted their price objective on Hydro One from C$51.00 to C$53.00 in a research report on Tuesday, December 16th. Jefferies Financial Group dropped their price target on shares of Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th. National Bank Financial raised their price objective on shares of Hydro One from C$49.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Canadian Imperial Bank of Commerce upped their target price on shares of Hydro One from C$52.00 to C$54.00 in a research report on Tuesday, October 21st. Finally, Raymond James Financial raised their price target on Hydro One from C$49.00 to C$53.50 and gave the stock a “market perform” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Hydro One currently has an average rating of “Hold” and a consensus target price of C$53.35.

Hydro One Price Performance

TSE H traded down C$0.77 on Wednesday, hitting C$56.57. 426,890 shares of the company were exchanged, compared to its average volume of 896,239. Hydro One has a 1-year low of C$43.30 and a 1-year high of C$57.63. The firm has a 50 day moving average of C$53.94 and a two-hundred day moving average of C$52.18. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The company has a market cap of C$33.93 billion, a P/E ratio of 26.07, a P/E/G ratio of 3.17 and a beta of 0.22.

Hydro One (TSE:H) last announced its earnings results on Friday, February 13th. The company reported C$0.39 earnings per share for the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. The company had revenue of C$981.00 million during the quarter. On average, equities analysts predict that Hydro One will post 2.0572195 EPS for the current year.

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