Hydro One (TSE:H) Stock Price Expected to Rise, CIBC Analyst Says

Hydro One (TSE:H) had its price target increased by research analysts at CIBC from C$52.00 to C$54.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 1.45% from the stock’s current price.

Several other brokerages have also commented on H. Desjardins set a C$58.00 price target on Hydro One and gave the company a “buy” rating in a research note on Tuesday, August 12th. Raymond James Financial raised their price target on Hydro One from C$48.00 to C$49.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. TD Securities raised their price objective on Hydro One from C$52.00 to C$54.00 and gave the company a “hold” rating in a research report on Thursday, August 14th. Finally, National Bankshares raised their price objective on Hydro One from C$47.00 to C$48.00 and gave the company a “sector perform” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$51.30.

Hydro One Stock Performance

Shares of Hydro One stock opened at C$53.23 on Tuesday. The firm has a market cap of C$31.93 billion, a P/E ratio of 25.47, a P/E/G ratio of 3.17 and a beta of 0.30. 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 12 month low of C$42.52 and a 12 month high of C$53.98. The stock’s fifty day moving average price is C$50.08 and its 200-day moving average price is C$49.88.

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.