Royal Bank of Canada Issues Positive Forecast for Hydro One (TSE:H) Stock Price

Hydro One (TSE:H) had its target price boosted by Royal Bank of Canada from C$43.00 to C$46.00 in a research note released on Friday morning,BayStreet.CA reports.

A number of other equities analysts also recently weighed in on H. CIBC upped their price target on Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Scotiabank upped their price target on Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hydro One presently has a consensus rating of “Hold” and an average price target of C$45.43.

Hydro One Trading Up 1.3 %

TSE:H opened at C$44.56 on Friday. Hydro One has a twelve month low of C$37.27 and a twelve month high of C$48.05. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. The business has a 50 day moving average price of C$44.43 and a two-hundred day moving average price of C$44.91. The company has a market cap of C$26.72 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34.

Hydro One Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.314 per share. This represents a $1.26 annualized dividend and a yield of 2.82%. The ex-dividend date was Wednesday, December 11th. Hydro One’s payout ratio is 66.44%.

Insiders Place Their Bets

In related news, Director Stacey Mowbray bought 700 shares of Hydro One stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of C$44.03 per share, with a total value of C$30,818.20. Following the acquisition, the director now owns 700 shares in the company, valued at C$30,818.20. This trade represents a ∞ increase in their position. Company insiders own 47.12% of the company’s stock.

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.