Royal Bank Of Canada Issues Positive Forecast for Hydro One (TSE:H) Stock Price

Hydro One (TSE:H) had its price objective increased by Royal Bank Of Canada from C$58.00 to C$60.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 6.40% from the stock’s current price.

Other analysts have also recently issued reports about the company. TD boosted their price target on Hydro One from C$57.00 to C$58.00 and gave the stock a “hold” rating in a research report on Thursday, May 14th. National Bank Financial lifted their price objective on Hydro One from C$56.00 to C$61.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Scotia boosted their target price on Hydro One from C$53.00 to C$58.00 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. Barclays cut their target price on Hydro One from C$63.00 to C$61.00 in a research note on Thursday. Finally, Jefferies Financial Group lowered Hydro One from a “hold” rating to a “moderate sell” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Hydro One presently has an average rating of “Hold” and a consensus target price of C$57.09.

Hydro One Stock Down 0.6%

Shares of TSE:H traded down C$0.36 during midday trading on Thursday, reaching C$56.39. The company’s stock had a trading volume of 373,971 shares, compared to its average volume of 1,256,641. The company has a quick ratio of 0.30, a current ratio of 0.54 and a debt-to-equity ratio of 149.17. The firm has a 50 day moving average of C$57.92 and a 200-day moving average of C$57.66. The firm has a market capitalization of C$33.84 billion, a P/E ratio of 24.73, a PEG ratio of 3.17 and a beta of 0.35. Hydro One has a 12-month low of C$48.22 and a 12-month high of C$60.57.

Hydro One (TSE:H) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.62 earnings per share (EPS) for the quarter. Hydro One had a net margin of 14.78% and a return on equity of 10.87%. The company had revenue of C$1.23 billion during the quarter. On average, research analysts anticipate that Hydro One will post 2.0572195 earnings per share 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.