Hydro One (TSE:H) Stock Price Expected to Rise, Scotiabank Analyst Says

Hydro One (TSE:H) had its price objective boosted by analysts at Scotiabank from C$51.00 to C$53.00 in a report issued on Tuesday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 0.38% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. CIBC increased their price target on Hydro One from C$52.00 to C$54.00 in a report on Tuesday, October 21st. Raymond James Financial upped their price objective on shares of Hydro One from C$49.00 to C$53.50 and gave the company a “market perform” rating in a report on Friday, October 24th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Hydro One currently has an average rating of “Hold” and a consensus target price of C$52.45.

Hydro One Trading Down 0.2%

Hydro One stock traded down C$0.12 during mid-day trading on Tuesday, hitting C$52.80. 159,770 shares of the stock were exchanged, compared to its average volume of 984,161. The stock has a market capitalization of C$31.67 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 3.17 and a beta of 0.25. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. Hydro One has a 12 month low of C$42.52 and a 12 month high of C$55.47. The firm’s fifty day simple moving average is C$52.64 and its two-hundred day simple moving average is C$50.56.

Hydro One (TSE:H) last issued its quarterly earnings results on Thursday, November 13th. The company reported C$0.70 earnings per share for the quarter. Hydro One had a return on equity of 9.58% and a net margin of 13.59%.The firm had revenue of C$1.22 billion during the quarter. Analysts forecast that Hydro One will post 2.0572195 EPS for the current year.

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.