Hydro One (TSE:H) Price Target Cut to C$45.00 by Analysts at Raymond James

Hydro One (TSE:H) had its price objective cut by Raymond James from C$48.00 to C$45.00 in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have a market perform rating on the stock.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group increased their price target on shares of Hydro One from C$45.00 to C$49.00 and gave the stock a “hold” rating in a research report on Tuesday. Royal Bank of Canada raised their target price on Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. CIBC upped their price target on Hydro One from C$46.00 to C$49.00 in a research report on Friday, April 4th. Finally, Scotiabank lifted their price objective on Hydro One from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$46.25.

Hydro One Stock Up 2.1 %

TSE H opened at C$51.12 on Thursday. Hydro One has a twelve month low of C$37.27 and a twelve month high of C$51.25. 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. The firm has a 50-day simple moving average of C$47.34 and a 200 day simple moving average of C$45.73. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58.

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 paid a $0.3142 dividend. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.26 annualized dividend and a yield of 2.46%. Hydro One’s dividend payout ratio is presently 66.44%.

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.