Hydro One (TSE:H) Stock Price Expected to Rise, Scotiabank Analyst Says

Hydro One (TSE:H) had its target price boosted by Scotiabank from C$51.00 to C$53.00 in a report released on Tuesday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential downside of 0.41% from the company’s previous close.

A number of other brokerages have also weighed in on H. Raymond James Financial upped their target price on Hydro One from C$49.00 to C$53.50 and gave the stock a “market perform” rating in a research note on Friday, October 24th. CIBC boosted their price objective on Hydro One from C$52.00 to C$54.00 in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$52.95.

Hydro One Stock Up 1.1%

Shares of TSE:H opened at C$53.22 on Tuesday. The firm has a fifty day moving average price of C$52.78 and a two-hundred day moving average price of C$50.59. The company has a market cap of C$31.92 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.17 and a beta of 0.25. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. Hydro One has a one year low of C$42.52 and a one year high of C$55.47.

Hydro One (TSE:H) last released its quarterly earnings results on Thursday, November 13th. The company reported C$0.70 earnings per share for the quarter. Hydro One had a net margin of 13.59% and a return on equity of 9.58%. The firm had revenue of C$1.22 billion for the quarter. Analysts anticipate that Hydro One will post 2.0572195 EPS for the current fiscal year.

Hydro One Company Profile

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.