Royal Bank of Canada Lowers Hydro One (TSE:H) Price Target to C$36.00

Hydro One (TSE:H) had its target price lowered by Royal Bank of Canada from C$38.00 to C$36.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Other research analysts also recently issued research reports about the company. CIBC cut their price target on Hydro One from C$41.00 to C$40.00 and set a neutral rating for the company in a research note on Friday, July 21st. BMO Capital Markets set a C$42.00 target price on shares of Hydro One and gave the stock an outperform rating in a research note on Friday, September 8th. Wells Fargo & Company dropped their price target on shares of Hydro One from C$41.00 to C$39.00 in a research note on Thursday, August 10th. Finally, Laurentian set a C$38.00 price objective on shares of Hydro One and gave the company a hold rating in a research note on Thursday, August 17th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of C$38.05.

Hydro One Price Performance

Hydro One stock opened at C$36.90 on Monday. The business’s 50 day simple moving average is C$36.67 and its 200 day simple moving average is C$37.66. Hydro One has a 12 month low of C$30.87 and a 12 month high of C$40.68. The company has a market cap of C$22.11 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.90 and a beta of 0.27. The company has a current ratio of 0.39, a quick ratio of 0.30 and a debt-to-equity ratio of 131.49.

Hydro One Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 29th will be issued a $0.296 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $1.18 annualized dividend and a dividend yield of 3.21%. Hydro One’s payout ratio is currently 69.19%.

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 high-voltage transmission lines and primary low-voltage distribution network.