Hydro One (TSE:H) Price Target Raised to C$58.00 at TD

Hydro One (TSE:H – Get Free Report) had its price objective raised by TD from C$57.00 to C$58.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD’s price target would suggest a potential downside of 1.58% from the stock’s previous close.

Several other analysts have also weighed in on the company. Barclays decreased their price objective on Hydro One from C$66.00 to C$63.00 in a report on Friday, April 10th. BMO Capital Markets lifted their price objective on Hydro One from C$55.00 to C$58.00 and gave the stock a “market perform” rating in a report on Thursday. TD Securities lifted their price objective on Hydro One from C$56.00 to C$57.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Jefferies Financial Group decreased their price objective on Hydro One from C$52.00 to C$50.00 in a report on Wednesday, January 28th. Finally, Raymond James Financial boosted their price target on Hydro One from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Hydro One currently has a consensus rating of “Hold” and an average price target of C$56.64.

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Hydro One Stock Performance

Shares of TSE:H traded up C$0.16 during trading on Thursday, hitting C$58.93. 141,195 shares of the stock were exchanged, compared to its average volume of 1,181,030. Hydro One has a 1-year low of C$47.54 and a 1-year high of C$60.46. The company has a market capitalization of C$35.36 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 3.17 and a beta of 0.38. The company’s fifty day simple moving average is C$58.38 and its 200-day simple moving average is C$55.55. The company has a debt-to-equity ratio of 151.72, a quick ratio of 0.30 and a current ratio of 0.61.

Hydro One (TSE:H – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported C$0.65 earnings per share for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%.The company had revenue of C$1.22 billion for the quarter. Sell-side analysts expect that Hydro One will post 2.0572195 EPS for the current fiscal year.

About Hydro One

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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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