Hydro One (TSE:H) PT Set at C$58.00 by Desjardins

Desjardins set a C$58.00 target price on Hydro One (TSE:H) in a research note published on Tuesday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on H. Raymond James Financial dropped their price target on Hydro One from C$48.00 to C$45.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Royal Bank Of Canada increased their price target on Hydro One from C$46.00 to C$53.00 in a research report on Friday, May 9th. TD Securities upgraded Hydro One to a “hold” rating and set a C$52.00 price target on the stock in a research report on Friday, June 27th. BMO Capital Markets increased their price target on Hydro One from C$46.00 to C$50.00 and gave the stock a “market perform” rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company increased their price target on Hydro One from C$47.00 to C$52.00 in a research report on Friday, May 9th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$50.10.

Hydro One Trading Down 0.6%

Shares of TSE H opened at C$50.43 on Tuesday. 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 stock’s 50 day moving average price is C$49.14 and its two-hundred day moving average price is C$48.69. The stock has a market capitalization of C$30.24 billion, a P/E ratio of 26.59, a PEG ratio of 3.17 and a beta of 0.34. Hydro One has a 52-week low of C$42.52 and a 52-week high of C$53.98.

Hydro One Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were issued a $0.3331 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, June 11th. This represents a $1.33 dividend on an annualized basis and a yield of 2.6%. Hydro One’s dividend payout ratio is currently 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.