Scotiabank Increases Hydro One (TSE:H) Price Target to C$46.00

Hydro One (TSE:H) had its price objective lifted by equities researchers at Scotiabank from C$45.00 to C$46.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 2.00% from the stock’s current price.

Separately, CIBC increased their target price on Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$44.25.

Hydro One Price Performance

Shares of H traded up C$0.25 during midday trading on Thursday, hitting C$45.10. The company’s stock had a trading volume of 515,315 shares, compared to its average volume of 669,380. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. Hydro One has a one year low of C$37.27 and a one year high of C$48.05. The stock has a market capitalization of C$27.04 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The company’s fifty day simple moving average is C$44.54 and its two-hundred day simple moving average is C$44.76.

Insider Buying and Selling

In other Hydro One news, Director Stacey Mowbray bought 700 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the purchase, the director now 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 insiders.

Hydro One Company Profile

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.