CIBC Issues Positive Forecast for Hydro One (TSE:H) Stock Price

Hydro One (TSE:H) had its price target raised by CIBC from C$46.00 to C$49.00 in a report released on Friday,BayStreet.CA reports.

H has been the subject of a number of other reports. Royal Bank of Canada lifted their price objective on Hydro One from C$43.00 to C$46.00 in a report on Friday, February 21st. Scotiabank lifted their price target on shares of 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. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$45.86.

Hydro One Trading Down 2.6 %

Shares of Hydro One stock opened at C$49.07 on Friday. Hydro One has a 52-week low of C$37.27 and a 52-week high of C$51.24. The firm has a market capitalization of C$29.42 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. 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’s fifty day moving average price is C$46.67 and its two-hundred day moving average price is C$45.61.

Hydro One Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a $0.3142 dividend. 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. This represents a $1.26 dividend on an annualized basis and a yield of 2.56%. Hydro One’s dividend payout ratio (DPR) is presently 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.