Hydro One Ltd (TSE:H) Given Average Rating of “Buy” by Analysts
Hydro One Ltd (TSE:H) has earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$26.75.
A number of research firms recently commented on H. BMO Capital Markets lifted their price objective on Hydro One from C$24.50 to C$26.00 in a research note on Thursday, July 7th. RBC Capital Markets lifted their target price on Hydro One from C$26.00 to C$30.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. Scotiabank boosted their price objective on Hydro One from C$24.50 to C$25.50 and gave the company a “sector perform” rating in a report on Monday, August 15th. TD Securities boosted their price objective on Hydro One from C$24.00 to C$25.00 and gave the company a “hold” rating in a report on Monday, August 15th. Finally, Barclays PLC set a C$27.00 target price on Hydro One in a research report on Friday, June 17th.
Shares of Hydro One (TSE:H) traded up 0.35% during midday trading on Tuesday, hitting $26.01. 175,469 shares of the stock traded hands. Hydro One has a 1-year low of $21.53 and a 1-year high of $26.80. The stock has a 50 day moving average of $25.89 and a 200 day moving average of $24.78. The company has a market capitalization of $15.48 billion and a P/E ratio of 20.89.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 30th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 12th. This represents a $0.84 annualized dividend and a dividend yield of 3.24%.
About Hydro One
Hydro One Limited is an electricity transmission and distribution utility. The Company transmits and distributes electricity across the Province of Ontario. It operates through three segments: Transmission Business, Distribution Business and Other Business. Its Transmission Business comprises the business of transmitting high voltage electricity across the province, interconnecting over 70 local distribution companies and certain directly connected industrial customers throughout the Ontario electricity grid.
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