National Bank Financial Forecasts Strong Price Appreciation for Hydro One (TSE:H) Stock

Hydro One (TSE:H) had its price objective increased by research analysts at National Bank Financial from C$55.00 to C$56.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price objective points to a potential downside of 4.97% from the company’s previous close.

A number of other brokerages also recently weighed in on H. Scotia raised their target price on Hydro One from C$53.00 to C$58.00 and gave the company a “sector perform” rating in a report on Thursday. Barclays reduced their target price on Hydro One from C$66.00 to C$63.00 in a report on Friday, April 10th. BMO Capital Markets raised their price objective on Hydro One from C$55.00 to C$58.00 and gave the company a “market perform” rating in a report on Thursday. Jefferies Financial Group cut their price objective on Hydro One from C$52.00 to C$50.00 in a report on Wednesday, January 28th. Finally, TD Securities raised their price objective on Hydro One from C$56.00 to C$57.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Hydro One has an average rating of “Hold” and a consensus target price of C$56.64.

Hydro One Price Performance

Shares of H stock traded up C$0.16 during trading hours on Thursday, reaching C$58.93. The company’s stock had a trading volume of 141,195 shares, compared to its average volume of 1,181,030. The firm’s 50 day simple moving average is C$58.38 and its 200-day simple moving average is C$55.55. The company has a market capitalization of C$35.36 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 3.17 and a beta of 0.38. Hydro One has a fifty-two week low of C$47.54 and a fifty-two week high of C$60.46. The company has a quick ratio of 0.30, a current ratio of 0.61 and a debt-to-equity ratio of 151.72.

Hydro One (TSE:H) last issued its earnings results on Wednesday, May 13th. The company reported C$0.65 earnings per share for the quarter. The firm had revenue of C$1.22 billion for the quarter. Hydro One had a return on equity of 10.73% and a net margin of 14.81%. Sell-side analysts forecast that Hydro One will post 2.0572195 earnings per share for the current year.

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. The province of Ontario holds an approximate 47% common equity stake.