Royal Bank of Canada Issues Positive Forecast for Hydro One (TSE:H) Stock Price

Hydro One (TSE:H - Free Report) had its price objective lifted by Royal Bank of Canada from C$43.00 to C$46.00 in a research report report published on Friday morning,BayStreet.CA reports.

A number of other analysts have also recently commented on the company. CIBC lifted 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. Scotiabank lifted 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. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of C$45.43.

Hydro One Stock Up 1.4 %

TSE H traded up C$0.64 during midday trading on Friday, hitting C$45.20. 593,694 shares of the company traded hands, compared to its average volume of 751,550. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. The company has a market cap of C$27.10 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a 52 week low of C$37.27 and a 52 week high of C$48.05. The company's 50-day simple moving average is C$44.45 and its 200-day simple moving average is C$44.93.

Hydro One Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.314 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $1.26 dividend on an annualized basis and a yield of 2.78%. Hydro One's payout ratio is 66.44%.

Insider Buying and Selling

In other news, Director Stacey Mowbray acquired 700 shares of the business's stock in a transaction 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 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 currently owned by 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.