Hydro One (TSE:H) Price Target Raised to C$46.00

Hydro One (TSE:H - Get Free Report) had its target price upped by equities research analysts at Scotiabank from C$45.00 to C$46.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price indicates a potential upside of 2.29% from the company's previous close.

Separately, CIBC upped their price objective on Hydro One from C$45.00 to C$46.00 and gave the stock a "neutral" rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Hydro One currently has an average rating of "Hold" and an average target price of C$45.00.

Hydro One Price Performance

Shares of TSE H traded down C$0.12 during mid-day trading on Thursday, reaching C$44.97. 588,521 shares of the company were exchanged, compared to its average volume of 681,695. 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 moving average price is C$44.48 and its 200 day moving average price is C$44.82. The stock has a market capitalization of C$26.96 billion, a PE ratio of 23.71, a PEG ratio of 3.17 and a beta of 0.34. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53.

Insider Activity

In other Hydro One news, Director Stacey Mowbray purchased 700 shares of Hydro One stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of C$44.03 per share, for a total transaction of C$30,818.20. Following the acquisition, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. This trade represents a ∞ increase in their ownership of the stock. Insiders own 47.12% of the company's stock.

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.