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

Hydro One (TSE:H) had its price objective upped by Scotiabank from C$45.00 to C$46.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 2.29% from the stock’s previous close.

Separately, CIBC raised their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hydro One presently has an average rating of “Hold” and a consensus price target of C$45.00.

Hydro One Stock Performance

Shares of TSE H opened at C$44.97 on Thursday. Hydro One has a 12-month low of C$37.27 and a 12-month high of C$48.05. The firm has a market capitalization of C$26.96 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth 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. The firm has a 50 day moving average of C$44.48 and a 200 day moving average of C$44.82.

Insider Activity

In related news, Director Stacey Mowbray purchased 700 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the completion of the transaction, the director now directly owns 700 shares in the company, valued at C$30,818.20. This represents a ∞ increase in their ownership of the stock. Corporate insiders own 47.12% of the company’s stock.

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.