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

Hydro One (TSE:H) had its price target raised by CIBC from C$45.00 to C$46.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also issued reports on the company. Raymond James boosted their target price on Hydro One from C$41.00 to C$45.00 in a research report on Thursday, September 19th. Royal Bank of Canada raised their price objective on shares of Hydro One from C$41.00 to C$43.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hydro One currently has an average rating of “Hold” and a consensus target price of C$43.25.

Hydro One Price Performance

H stock opened at C$44.36 on Wednesday. The stock has a market cap of C$26.59 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a 52-week low of C$37.27 and a 52-week high of C$48.05. The business has a fifty day moving average of C$44.82 and a two-hundred day moving average of C$43.89. The company has a quick ratio of 0.30, a current ratio of 0.40 and a debt-to-equity ratio of 137.11.

Hydro One Announces Dividend

The business also recently disclosed 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 was Wednesday, December 11th. This represents a $1.26 dividend on an annualized basis and a yield of 2.83%. Hydro One’s payout ratio is 67.38%.

Insider Activity

In other Hydro One news, Director Stacey Mowbray acquired 700 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 700 shares of the company’s stock, valued at approximately C$30,818.20. The trade was a ∞ increase in their position. Corporate insiders own 47.12% of the company’s stock.

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.