Scotiabank Trims Hydro One (TSE:H) Target Price to C$38.00

Hydro One (TSE:H) had its price target reduced by Scotiabank from C$40.00 to C$38.00 in a research note issued to investors on Monday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research firms have also recently issued reports on H. Raymond James increased their price objective on shares of Hydro One from C$40.00 to C$41.00 and gave the company a market perform rating in a report on Wednesday, February 14th. Wells Fargo & Company lifted their price target on Hydro One from C$39.00 to C$40.00 and gave the company an equal weight rating in a research report on Wednesday, February 14th. CIBC cut their price objective on Hydro One from C$40.00 to C$39.00 and set a neutral rating for the company in a report on Friday, April 19th. National Bankshares lifted their target price on Hydro One from C$35.00 to C$38.00 and gave the stock a sector perform rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada boosted their price target on shares of Hydro One from C$37.00 to C$41.00 and gave the stock a sector perform rating in a research report on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Hydro One presently has an average rating of Hold and a consensus price target of C$39.56.

Hydro One Price Performance

Shares of H opened at C$37.85 on Monday. Hydro One has a 12 month low of C$32.79 and a 12 month high of C$41.69. The company has a debt-to-equity ratio of 133.77, a current ratio of 0.50 and a quick ratio of 0.30. The stock has a fifty day moving average price of C$39.91 and a 200 day moving average price of C$38.81. The company has a market cap of C$22.68 billion, a P/E ratio of 20.95, a PEG ratio of 2.90 and a beta of 0.31.

Hydro One (TSE:H) last posted its earnings results on Tuesday, February 13th. The company reported C$0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.30. The firm had revenue of C$1.98 billion during the quarter. Hydro One had a net margin of 13.83% and a return on equity of 9.45%. On average, research analysts forecast that Hydro One will post 1.9103751 earnings per share for the current year.

Hydro One Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Tuesday, March 12th. Hydro One’s dividend payout ratio (DPR) is presently 65.75%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.