Scotiabank Lowers Hydro One (TSE:H) Price Target to C$38.00

Hydro One (TSE:H) had its price objective reduced by Scotiabank from C$40.00 to C$38.00 in a report released on Monday morning, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. National Bankshares upped their price target on shares of Hydro One from C$35.00 to C$38.00 and gave the stock a sector perform rating in a research report on Tuesday, January 30th. Wells Fargo & Company upped their price target on shares of Hydro One from C$39.00 to C$40.00 and gave the stock an equal weight rating in a research report on Wednesday, February 14th. CIBC reduced their price objective on shares of Hydro One from C$40.00 to C$39.00 and set a neutral rating for the company in a research note on Friday, April 19th. Royal Bank of Canada boosted their price objective on shares of Hydro One from C$37.00 to C$41.00 and gave the stock a sector perform rating in a research note on Wednesday, February 14th. Finally, Raymond James boosted their price objective on shares of Hydro One from C$40.00 to C$41.00 and gave the stock a market perform rating in a research note on Wednesday, February 14th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of C$39.56.

Hydro One Price Performance

Hydro One stock opened at C$37.84 on Monday. The firm has a 50-day moving average price of C$39.86 and a 200-day moving average price of C$38.81. The firm has a market capitalization of C$22.67 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.90 and a beta of 0.31. The company has a current ratio of 0.50, a quick ratio of 0.30 and a debt-to-equity ratio of 133.77. Hydro One has a 12-month low of C$32.79 and a 12-month high of C$41.69.

Hydro One (TSE:H) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C$0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.30. Hydro One had a net margin of 13.83% and a return on equity of 9.45%. The company had revenue of C$1.98 billion during the quarter. As a group, equities research analysts forecast that Hydro One will post 1.9103751 EPS for the current year.

Hydro One Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Tuesday, March 12th. Hydro One’s payout ratio is 65.75%.

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.