BMO Capital Markets Issues Positive Forecast for Hydro One (TSE:H) Stock Price

Hydro One (TSE:H) had its price objective upped by stock analysts at BMO Capital Markets from C$55.00 to C$58.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential downside of 1.58% from the stock’s current price.

A number of other research analysts have also commented on H. TD Securities raised their price target on Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Raymond James Financial raised their price target on Hydro One from C$57.00 to C$58.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Jefferies Financial Group lowered their price target on Hydro One from C$52.00 to C$50.00 in a report on Wednesday, January 28th. Scotia raised their price target on Hydro One from C$53.00 to C$58.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, Barclays lowered their price target on Hydro One from C$66.00 to C$63.00 in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$56.64.

Hydro One Stock Performance

TSE H traded up C$0.16 during trading hours on Thursday, hitting C$58.93. The company had a trading volume of 141,195 shares, compared to its average volume of 1,181,030. Hydro One has a fifty-two week low of C$47.54 and a fifty-two week high of C$60.46. The company has a quick ratio of 0.30, a current ratio of 0.61 and a debt-to-equity ratio of 151.72. The business has a fifty day simple moving average of C$58.38 and a 200-day simple moving average of C$55.55. The firm has a market cap of C$35.36 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 3.17 and a beta of 0.38.

Hydro One (TSE:H) last issued its quarterly earnings results on Wednesday, May 13th. The company reported C$0.65 EPS for the quarter. The company had revenue of C$1.22 billion for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%. 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.