Hydro One (TSE:H) Price Target Lowered to C$51.00 at CIBC

Hydro One (TSE:H) had its target price reduced by CIBC from C$52.00 to C$51.00 in a research note released on Monday morning,BayStreet.CA reports.

A number of other research firms have also commented on H. Wells Fargo & Company upped their price target on Hydro One from C$47.00 to C$52.00 in a research report on Friday, May 9th. Desjardins set a C$58.00 price target on Hydro One and gave the company a “buy” rating in a research report on Tuesday, May 6th. BMO Capital Markets upped their price target 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, May 9th. Raymond James Financial lowered their price target on 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. Finally, Jefferies Financial Group upped their price target on Hydro One from C$45.00 to C$49.00 and gave the company a “hold” rating in a research report on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$50.10.

Hydro One Trading Up 0.7%

Shares of H stock opened at C$48.34 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. The business has a 50-day moving average price of C$49.40 and a two-hundred day moving average price of C$48.07. Hydro One has a 12-month low of C$41.06 and a 12-month high of C$53.98. The firm has a market cap of C$28.98 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34.

Hydro One Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a dividend of $0.3331 per share. This is an increase from Hydro One’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.76%. Hydro One’s dividend payout ratio is 66.44%.

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.