Hydro One (TSE:H) Given New C$46.00 Price Target at Royal Bank of Canada

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

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

Hydro One Stock Up 1.3 %

Shares of Hydro One stock opened at C$44.56 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The company’s fifty day simple moving average is C$44.43 and its two-hundred day simple moving average is C$44.91. The company has a market cap of C$26.72 billion, a P/E ratio of 23.50, a PEG ratio of 3.17 and a beta of 0.34. Hydro One has a 12-month low of C$37.27 and a 12-month high of C$48.05.

Hydro One Dividend Announcement

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

Insider Buying and Selling

In other news, Director Stacey Mowbray purchased 700 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of C$44.03 per share, for a total transaction of C$30,818.20. Following the purchase, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. This trade represents a ∞ increase in their position. 47.12% of the stock is currently owned by company insiders.

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.