TD Securities Boosts Hydro One (TSE:H) Price Target to C$23.00

Hydro One (TSE:H) had its price target hoisted by TD Securities from C$22.00 to C$23.00 in a research report issued on Friday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price target points to a potential downside of 2.67% from the stock’s current price.

Several other brokerages also recently weighed in on H. CSFB upgraded Hydro One from a “neutral” rating to an “outperform” rating and boosted their price target for the company from C$24.00 to C$27.00 in a report on Monday, August 19th. Raymond James reiterated a “market perform” rating and issued a C$25.00 price target on shares of Hydro One in a report on Monday, August 12th. National Bank Financial boosted their price target on Hydro One from C$20.00 to C$24.00 and gave the company an “underperform” rating in a report on Monday, August 12th. Royal Bank of Canada boosted their price target on Hydro One from C$25.00 to C$26.00 in a report on Wednesday, August 21st. Finally, CIBC boosted their price target on Hydro One from C$24.00 to C$25.00 in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of C$24.39.

H traded down C$0.16 during trading on Friday, hitting C$23.63. The company’s stock had a trading volume of 1,163,030 shares, compared to its average volume of 708,615. The firm’s 50 day moving average price is C$24.45 and its 200-day moving average price is C$23.47. The company has a debt-to-equity ratio of 130.07, a current ratio of 0.41 and a quick ratio of 0.36. The stock has a market cap of $14.19 billion and a PE ratio of -73.84. Hydro One has a twelve month low of C$19.20 and a twelve month high of C$25.06.

Hydro One (TSE:H) last issued its quarterly earnings results on Friday, August 9th. The company reported C$0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.26. The business had revenue of C$1.41 billion during the quarter. Equities analysts anticipate that Hydro One will post 1.42 earnings per share for the current year.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electrical transmission and distribution company in Ontario. It operates through three segments: Transmission, Distribution, and Other Business. The company owns and operates approximately 123,000 circuit kilometers of low-voltage distribution network.

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