Hydro One (TSE:H) Given a C$58.00 Price Target by Desjardins Analysts

Desjardins set a C$58.00 target price on Hydro One (TSE:H) in a research report released on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Royal Bank Of Canada boosted their price target on Hydro One from C$46.00 to C$53.00 in a report on Friday, May 9th. Raymond James Financial cut 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 report on Thursday, April 17th. Jefferies Financial Group boosted their price target on Hydro One from C$45.00 to C$49.00 and gave the stock a “hold” rating in a report on Tuesday, April 15th. Wells Fargo & Company boosted their price target on Hydro One from C$47.00 to C$52.00 in a report on Friday, May 9th. Finally, TD Securities raised Hydro One to a “hold” rating and set a C$52.00 price objective for the company in a research report on Friday, June 27th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Hydro One presently has a consensus rating of “Hold” and a consensus price target of C$50.10.

Hydro One Stock Performance

TSE H opened at C$50.43 on Tuesday. Hydro One has a 1-year low of C$42.52 and a 1-year high of C$53.98. The company has a market capitalization of C$30.24 billion, a P/E ratio of 26.59, a PEG ratio of 3.17 and a beta of 0.34. The business has a 50 day moving average price of C$49.14 and a 200 day moving average price of C$48.69. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30.

Hydro One Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were issued a $0.3331 dividend. This is an increase from Hydro One’s previous quarterly dividend of $0.31. This represents a $1.33 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, June 11th. Hydro One’s dividend payout ratio (DPR) is currently 66.44%.

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.