CIBC Raises Hydro One (TSE:H) Price Target to C$49.00

Hydro One (TSE:H - Free Report) had its target price hoisted by CIBC from C$46.00 to C$49.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

H has been the subject of a number of other research reports. Scotiabank increased their target price on Hydro One from C$45.00 to C$46.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their price target on Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of C$45.86.

Hydro One Price Performance

Shares of H stock traded down C$0.98 during mid-day trading on Friday, hitting C$47.28. 1,823,133 shares of the stock were exchanged, compared to its average volume of 1,048,546. Hydro One has a 52-week low of C$37.27 and a 52-week high of C$51.24. 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 company has a market cap of C$28.35 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The firm has a fifty day moving average of C$46.88 and a 200 day moving average of C$45.63.

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Hydro One Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a $0.3142 dividend. This represents a $1.26 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, March 12th. This is a boost from Hydro One's previous quarterly dividend of $0.31. Hydro One's dividend payout ratio (DPR) is currently 66.44%.

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.