National Bank Financial Forecasts Strong Price Appreciation for Hydro One (TSE:H) Stock

Hydro One (TSE:H) had its price target raised by equities researchers at National Bank Financial from C$55.00 to C$56.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s price target suggests a potential downside of 4.97% from the stock’s previous close.

H has been the topic of a number of other research reports. BMO Capital Markets increased their target price on Hydro One from C$55.00 to C$58.00 and gave the stock a “market perform” rating in a research note on Thursday. Raymond James Financial increased their target price on Hydro One from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. TD Securities increased their target price on Hydro One from C$56.00 to C$57.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Jefferies Financial Group lowered their target price on Hydro One from C$52.00 to C$50.00 in a research note on Wednesday, January 28th. Finally, Scotia raised their price objective on Hydro One from C$53.00 to C$58.00 and gave the stock a “sector perform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$56.64.

Hydro One Stock Performance

TSE:H traded up C$0.16 on Thursday, hitting C$58.93. The company’s stock had a trading volume of 141,195 shares, compared to its average volume of 1,181,030. The company has a current ratio of 0.61, a quick ratio of 0.30 and a debt-to-equity ratio of 151.72. The stock has a fifty day moving average of C$58.38 and a two-hundred day moving average of C$55.55. The firm has a market capitalization of C$35.36 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 3.17 and a beta of 0.38. Hydro One has a one year low of C$47.54 and a one year high of C$60.46.

Hydro One (TSE:H) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.65 earnings per share (EPS) for the quarter. The firm had revenue of C$1.22 billion for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%. Research analysts predict 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.