Brokerages Set Hydro One Limited (TSE:H) Price Target at C$53.35

Hydro One Limited (TSE:H) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$54.50.

H has been the subject of several research reports. Jefferies Financial Group reduced their price objective on shares of Hydro One from C$52.00 to C$50.00 in a research report on Wednesday, January 28th. Barclays set a C$66.00 target price on shares of Hydro One and gave the company an “overweight” rating in a research note on Wednesday. National Bank Financial raised their target price on shares of Hydro One from C$49.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. Scotiabank lifted their price target on shares of Hydro One from C$51.00 to C$53.00 in a research report on Tuesday, December 16th. Finally, TD Securities upped their price target on Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a report on Wednesday, February 18th.

Hydro One Price Performance

TSE H opened at C$58.25 on Tuesday. Hydro One has a 12 month low of C$46.45 and a 12 month high of C$60.46. The firm has a market capitalization of C$34.94 billion, a PE ratio of 26.12, a P/E/G ratio of 3.17 and a beta of 0.33. The company’s 50 day simple moving average is C$57.01 and its 200 day simple moving average is C$54.03. The company has a debt-to-equity ratio of 151.72, a current ratio of 0.61 and a quick ratio of 0.30.

Hydro One (TSE:H) last issued its quarterly earnings results on Friday, February 13th. The company reported C$0.39 earnings per share (EPS) for the quarter. The company had revenue of C$981.00 million for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%. As a group, equities research analysts forecast that Hydro One will post 2.0572195 EPS for the current fiscal year.

Hydro One Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a $0.3331 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, March 11th. Hydro One’s payout ratio is presently 58.90%.

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.