Hydro One (TSE:H) Price Target Raised to C$49.00 at Jefferies Financial Group

Hydro One (TSE:H - Free Report) had its price target raised by Jefferies Financial Group from C$45.00 to C$49.00 in a research report report published on Tuesday morning,BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other equities research analysts also recently issued reports on H. CIBC increased their price objective on Hydro One from C$46.00 to C$49.00 in a research note on Friday, April 4th. Royal Bank of Canada increased their price target on shares of Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Finally, Scotiabank boosted their price objective on shares of Hydro One from C$45.00 to C$46.00 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hydro One has an average rating of "Hold" and a consensus target price of C$46.25.

Hydro One Trading Up 2.1 %

Hydro One stock traded up C$1.07 during midday trading on Tuesday, reaching C$51.12. The stock had a trading volume of 898,282 shares, compared to its average volume of 1,035,479. The firm's fifty day simple moving average is C$47.57 and its two-hundred day simple moving average is C$45.79. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. Hydro One has a twelve month low of C$37.27 and a twelve month high of C$51.25. The firm has a market cap of C$30.65 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 3.17 and a beta of 0.34.

Hydro One Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a dividend of $0.3142 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Wednesday, March 12th. This is a boost from Hydro One's previous quarterly dividend of $0.31. Hydro One's payout ratio is currently 66.44%.

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.