Hydro One (TSE:H) Stock Price Expected to Rise, Scotiabank Analyst Says

Hydro One (TSE:H) had its price target hoisted by research analysts at Scotiabank from C$45.00 to C$46.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 2.00% from the stock’s previous close.

Separately, CIBC lifted their price target on shares of 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 investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$44.25.

Hydro One Price Performance

Shares of TSE H traded up C$0.25 during mid-day trading on Thursday, reaching C$45.10. The company’s stock had a trading volume of 515,315 shares, compared to its average volume of 669,380. The company has a debt-to-equity ratio of 140.53, a current ratio of 0.58 and a quick ratio of 0.30. Hydro One has a 52 week low of C$37.27 and a 52 week high of C$48.05. The stock has a fifty day moving average of C$44.54 and a two-hundred day moving average of C$44.76. The firm has a market capitalization of C$27.04 billion, a PE ratio of 23.78, a P/E/G ratio of 3.17 and a beta of 0.34.

Insider Activity

In related news, Director Stacey Mowbray acquired 700 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the acquisition, the director now owns 700 shares in the company, valued at 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 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.