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

Hydro One (TSE:H) had its price target raised by investment analysts at CIBC from C$45.00 to C$46.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s target price would indicate a potential upside of 4.50% from the company’s previous close.

A number of other equities research analysts also recently weighed in on H. Raymond James upped their target price on Hydro One from C$41.00 to C$45.00 in a research report on Thursday, September 19th. Royal Bank of Canada raised their target price on Hydro One from C$41.00 to C$43.00 and gave the company a “sector perform” rating in a research note on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Hydro One currently has an average rating of “Hold” and a consensus price target of C$43.25.

Hydro One Price Performance

Hydro One stock traded down C$0.18 during trading hours on Wednesday, hitting C$44.02. 178,071 shares of the company traded hands, compared to its average volume of 531,205. The firm’s 50-day simple moving average is C$44.82 and its two-hundred day simple moving average is C$43.89. The firm has a market cap of C$26.39 billion, a P/E ratio of 23.54, a P/E/G ratio of 3.17 and a beta of 0.34. Hydro One has a 1-year low of C$37.27 and a 1-year high of C$48.05. The company has a quick ratio of 0.30, a current ratio of 0.40 and a debt-to-equity ratio of 137.11.

Insider Buying and Selling at Hydro One

In other Hydro One news, Director Stacey Mowbray bought 700 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of C$44.03 per share, with a total value of C$30,818.20. Following the completion of the transaction, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. This represents a ? increase in their position. Insiders own 47.12% of the company’s stock.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.