Barclays Cuts Hydro One (TSE:H) Price Target to C$61.00

Hydro One (TSE:H) had its price target trimmed by Barclays from C$63.00 to C$61.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the stock. Scotia lifted their price target on shares of Hydro One from C$53.00 to C$58.00 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. National Bank Financial increased their price objective on Hydro One from C$56.00 to C$61.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. TD raised their target price on Hydro One from C$57.00 to C$58.00 and gave the stock a “hold” rating in a research report on Thursday, May 14th. Jefferies Financial Group lowered Hydro One from a “hold” rating to a “moderate sell” rating in a research note on Monday, June 1st. Finally, BMO Capital Markets upped their price objective on shares of Hydro One from C$55.00 to C$58.00 and gave the company a “market perform” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$57.09.

Hydro One Stock Down 0.1%

H stock opened at C$56.42 on Thursday. The stock’s fifty day simple moving average is C$57.91 and its two-hundred day simple moving average is C$57.67. The company has a current ratio of 0.88, a quick ratio of 0.30 and a debt-to-equity ratio of 154.61. Hydro One has a 1-year low of C$48.22 and a 1-year high of C$60.57. The stock has a market cap of C$33.86 billion, a P/E ratio of 23.91, a P/E/G ratio of 3.17 and a beta of 0.35.

Hydro One (TSE:H) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$0.62 earnings per share (EPS) for the quarter. The firm had revenue of C$1.23 billion during the quarter. Hydro One had a return on equity of 11.08% and a net margin of 14.87%. Analysts expect that Hydro One will post 2.0572195 EPS for the current year.

Hydro One Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.3531 per share. This is an increase from Hydro One’s previous quarterly dividend of $0.33. This represents a $1.41 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, June 10th. Hydro One’s dividend payout ratio (DPR) is currently 57.31%.

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