Hydro One (TSE:H) Given New C$46.00 Price Target at Scotiabank

Hydro One (TSE:H) had its price target upped by Scotiabank from C$45.00 to C$46.00 in a report released on Thursday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Separately, CIBC upped their target price on Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$44.25.

Hydro One Price Performance

H stock opened at C$45.09 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. Hydro One has a one year low of C$37.27 and a one year high of C$48.05. The firm has a market capitalization of C$27.03 billion, a PE ratio of 23.78, a P/E/G ratio of 3.17 and a beta of 0.34. The firm has a 50-day moving average of C$44.54 and a two-hundred day moving average of C$44.76.

Hydro One Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.314 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.26 dividend on an annualized basis and a yield of 2.79%. Hydro One’s payout ratio is currently 66.44%.

Insiders Place Their Bets

In other Hydro One news, Director Stacey Mowbray acquired 700 shares of Hydro One stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of C$44.03 per share, with a total value of C$30,818.20. Following the completion of the transaction, the director now owns 700 shares of the company’s stock, valued at C$30,818.20. The trade was a ∞ increase in their ownership of the stock. Company insiders own 47.12% of the company’s stock.

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.