Royal Bank of Canada Forecasts Strong Price Appreciation for Hydro One (TSE:H) Stock

Hydro One (TSE:H) had its target price upped by equities research analysts at Royal Bank of Canada from C$46.00 to C$53.00 in a research note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target indicates a potential upside of 3.82% from the company’s current price.

A number of other research firms also recently issued reports on H. Jefferies Financial Group increased their target price on shares of Hydro One from C$45.00 to C$49.00 and gave the stock a “hold” rating in a research report on Tuesday, April 15th. Scotiabank raised 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 research note on Thursday, February 13th. Raymond James decreased their price target 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. BMO Capital Markets raised their price objective on Hydro One from C$46.00 to C$50.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Wells Fargo & Company upped their target price on Hydro One from C$47.00 to C$52.00 in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Hydro One presently has an average rating of “Hold” and a consensus price target of C$49.67.

Hydro One Price Performance

Shares of Hydro One stock opened at C$51.05 on Friday. The business’s fifty day moving average price is C$49.59 and its 200 day moving average price is C$46.48. The stock has a market capitalization of C$30.61 billion, a P/E ratio of 26.92, a PEG ratio of 3.17 and a beta of 0.34. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. Hydro One has a twelve month low of C$38.24 and a twelve month high of C$53.98.

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.