Hydro One (TSE:H) Stock Price Expected to Rise, CIBC Analyst Says

Hydro One (TSE:H) had its price objective increased by CIBC from C$45.00 to C$46.00 in a report released on Wednesday,BayStreet.CA reports. They currently have a neutral rating on the stock.

Several other research analysts also recently issued reports on the stock. Raymond James upped their target price on shares of Hydro One from C$41.00 to C$45.00 in a research note on Thursday, September 19th. Royal Bank of Canada upped their price objective on Hydro One from C$41.00 to C$43.00 and gave the company a “sector perform” rating in a research report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Hydro One presently has a consensus rating of “Hold” and a consensus target price of C$43.25.

Hydro One Price Performance

Shares of TSE:H opened at C$43.58 on Wednesday. The business has a fifty day moving average price of C$44.77 and a 200-day moving average price of C$43.95. The company has a debt-to-equity ratio of 137.11, a current ratio of 0.40 and a quick ratio of 0.30. The company has a market capitalization of C$26.12 billion, a PE ratio of 23.30, a PEG ratio of 3.17 and a beta of 0.34. Hydro One has a 1-year low of C$37.27 and a 1-year high of C$48.05.

Hydro One Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.314 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.88%. Hydro One’s dividend payout ratio (DPR) is currently 67.38%.

Insider Buying and Selling

In related news, Director Stacey Mowbray acquired 700 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of C$44.03 per share, with a total value of C$30,818.20. Following the completion of the purchase, the director now directly owns 700 shares of the company’s stock, valued at C$30,818.20. This represents a ∞ increase in their ownership of the stock. 47.12% of the stock is currently owned by corporate insiders.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.