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

Hydro One (TSE:H) has been assigned a C$58.00 target price by Desjardins in a research report issued on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the stock. Desjardins’ price objective would indicate a potential upside of 8.45% from the company’s previous close. Desjardins also issued estimates for Hydro One’s FY2025 earnings at $2.06 EPS, FY2026 earnings at $2.20 EPS, FY2027 earnings at $2.30 EPS, FY2028 earnings at $2.40 EPS and FY2029 earnings at $2.61 EPS.

Other equities research analysts also recently issued reports about the stock. CIBC upped their price target on shares of Hydro One from C$46.00 to C$49.00 in a report on Friday, April 4th. Royal Bank of Canada lifted their price target on shares of Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Jefferies Financial Group lifted their price objective on Hydro One from C$45.00 to C$49.00 and gave the stock a “hold” rating in a research note on Tuesday, April 15th. Scotiabank raised their price objective on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Finally, Raymond James cut their price objective on shares of Hydro One from C$48.00 to C$45.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Seven investment 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.com, Hydro One currently has a consensus rating of “Hold” and an average price target of C$47.56.

Hydro One Price Performance

Shares of TSE:H opened at C$53.48 on Tuesday. The business has a fifty day simple moving average of C$49.40 and a 200-day simple moving average of C$46.40. The company has a market cap of C$32.06 billion, a P/E ratio of 28.20, a P/E/G ratio of 3.17 and a beta of 0.34. 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 52 week low of C$38.24 and a 52 week high of C$53.81.

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.