Hydro One (TSE:H) Price Target Raised to C$49.00

Hydro One (TSE:H) had its price objective upped by Jefferies Financial Group from C$45.00 to C$49.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other equities analysts also recently commented on H. Scotiabank upped their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. CIBC increased their price objective on Hydro One from C$46.00 to C$49.00 in a research note on Friday, April 4th. Finally, Royal Bank of Canada lifted their target price on Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Seven analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$46.25.

Hydro One Trading Up 2.1 %

TSE H opened at C$51.12 on Tuesday. The stock has a market cap of C$30.65 billion, a PE ratio of 26.96, a PEG ratio of 3.17 and a beta of 0.34. Hydro One has a 12 month low of C$37.27 and a 12 month high of C$51.25. The company’s 50-day moving average price is C$47.34 and its 200-day moving average price is C$45.73. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53.

Hydro One Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a dividend of $0.3142 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.26 dividend on an annualized basis and a yield of 2.46%. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. Hydro One’s dividend payout ratio is currently 66.44%.

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.