TD Securities Forecasts Strong Price Appreciation for Hydro One (TSE:H) Stock

Hydro One (TSE:H) had its target price increased by equities research analysts at TD Securities from C$56.00 to C$57.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price objective would suggest a potential upside of 0.28% from the stock’s current price.

A number of other analysts also recently issued reports on H. Canadian Imperial Bank of Commerce increased their target price on shares of Hydro One from C$52.00 to C$54.00 in a research report on Tuesday, October 21st. National Bank Financial boosted their price objective on shares of Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Jefferies Financial Group dropped their price objective on shares of Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. Scotiabank lifted their target price on shares of Hydro One from C$51.00 to C$53.00 in a report on Tuesday, December 16th. Finally, Raymond James Financial increased their price target on Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Hydro One currently has an average rating of “Hold” and an average target price of C$53.35.

Hydro One Trading Up 0.3%

Shares of H opened at C$56.84 on Wednesday. Hydro One has a twelve month low of C$43.30 and a twelve month high of C$57.63. The firm has a market capitalization of C$34.09 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.17 and a beta of 0.22. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The stock’s fifty day simple moving average is C$54.12 and its 200 day simple moving average is C$52.25.

Hydro One (TSE:H) last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.39 EPS for the quarter. The company had revenue of C$981.00 million during the quarter. Hydro One had a return on equity of 9.58% and a net margin of 13.59%. On average, equities research analysts forecast 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.