Hydro One (TSE:H) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Hydro One (TSE:H) had its price objective increased by equities research analysts at Royal Bank of Canada from C$43.00 to C$46.00 in a research note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential upside of 3.23% from the stock’s previous close.

A number of other brokerages have also recently commented on H. Scotiabank boosted their price target on Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. CIBC boosted their price target on Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$45.43.

Hydro One Stock Performance

Shares of H opened at C$44.56 on Friday. 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’s 50 day moving average price is C$44.43 and its 200-day moving average price is C$44.91. Hydro One has a 52 week low of C$37.27 and a 52 week high of C$48.05. The stock has a market cap of C$26.72 billion, a P/E ratio of 23.50, a P/E/G ratio of 3.17 and a beta of 0.34.

Insider Buying and Selling

In related news, Director Stacey Mowbray bought 700 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the purchase, the director now owns 700 shares in the company, valued at approximately C$30,818.20. This represents a ∞ increase in their ownership of the stock. 47.12% of the stock is owned by company insiders.

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.