Hydro One Ltd (TSE:H)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Scotiabank in a research note issued to investors on Friday. They currently have a C$25.50 target price on the stock. Scotiabank’s price objective would suggest a potential downside of 2.89% from the stock’s previous close.
Several other brokerages have also weighed in on H. Royal Bank Of Canada upped their price objective on Hydro One from C$26.00 to C$30.00 and gave the company an “outperform” rating in a report on Monday, August 15th. BMO Capital Markets upped their price objective on Hydro One from C$24.50 to C$26.00 in a report on Thursday, July 7th. Barclays PLC set a C$27.00 price objective on Hydro One in a report on Friday, June 17th. National Bank Financial upped their price objective on Hydro One from C$26.00 to C$28.00 in a report on Monday, July 18th. Finally, CIBC upped their target price on Hydro One from C$24.00 to C$25.00 in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of C$26.75.
Hydro One (TSE:H) traded up 0.19% on Friday, hitting $26.31. The stock had a trading volume of 151,106 shares. The stock has a 50-day moving average of $25.91 and a 200-day moving average of $24.81. Hydro One has a one year low of $21.53 and a one year high of $26.80. The company has a market cap of $15.65 billion and a PE ratio of 21.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 30th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Monday, September 12th.
About Hydro One
Hydro One Limited is an electricity transmission and distribution utility. The Company transmits and distributes electricity across the Province of Ontario. It operates through three segments: Transmission Business, Distribution Business and Other Business. Its Transmission Business comprises the business of transmitting high voltage electricity across the province, interconnecting over 70 local distribution companies and certain directly connected industrial customers throughout the Ontario electricity grid.
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