RBC Capital Markets Cuts Hydro One Ltd (H) Price Target to C$29.00

Hydro One Ltd (TSE:H) had its price target lowered by RBC Capital Markets from C$30.00 to C$29.00 in a research note released on Tuesday. RBC Capital Markets currently has an outperform rating on the stock.

A number of other research analysts also recently commented on the stock. Scotiabank reaffirmed a sector perform rating and set a C$25.50 price objective on shares of Hydro One in a research report on Friday, September 23rd. TD Securities lifted their target price on shares of Hydro One from C$24.00 to C$25.00 and gave the company a hold rating in a research note on Monday, August 15th. BMO Capital Markets lifted their target price on shares of Hydro One from C$24.50 to C$26.00 in a research note on Thursday, July 7th. Royal Bank Of Canada reduced their target price on shares of Hydro One from C$30.00 to C$29.00 and set an outperform rating for the company in a research note on Tuesday. Finally, CIBC lifted their target price on shares of Hydro One from C$24.00 to C$25.00 in a research note on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of C$26.55.

Analyst Recommendations for Hydro One (TSE:H)

Hydro One (TSE:H) opened at 24.79 on Tuesday. The firm’s 50-day moving average is $25.95 and its 200-day moving average is $24.95. The stock has a market cap of $14.75 billion and a P/E ratio of 19.91. Hydro One has a 1-year low of $21.53 and a 1-year high of $26.80.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 30th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was 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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