Hydro One (H) PT Lowered to C$20.00 at TD Securities
A number of other brokerages have also recently commented on H. CIBC cut Hydro One from an outperform rating to a neutral rating and lowered their price target for the stock from C$27.50 to C$26.00 in a research report on Tuesday, April 24th. CSFB raised Hydro One from a neutral rating to an outperform rating in a report on Friday, May 25th. Royal Bank of Canada cut Hydro One from an outperform rating to a sector perform rating and decreased their price objective for the company from C$25.00 to C$21.00 in a report on Thursday, July 12th. Industrial Alliance Securities cut Hydro One from a buy rating to a hold rating and decreased their price objective for the company from C$26.00 to C$24.00 in a report on Thursday, July 12th. Finally, BMO Capital Markets decreased their price objective on Hydro One from C$22.50 to C$21.00 in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of C$21.95.
Shares of H opened at C$19.47 on Wednesday. Hydro One has a one year low of C$18.57 and a one year high of C$23.35.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 11th will be issued a $0.23 dividend. The ex-dividend date is Monday, September 10th. This represents a $0.92 annualized dividend and a dividend yield of 4.73%.
In other news, insider Ferio Pugliese sold 7,712 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of C$19.51, for a total value of C$150,461.12.
About Hydro One
Hydro One Limited, through its subsidiaries, operates as an electrical transmission and distribution company in Ontario. It operates through three segments: Transmission, Distribution, and Other Business. The company owns and operates approximately 30,000 circuit kilometers of high-voltage transmission network and 123,000 circuit kilometers of low-voltage distribution network; and 308 transmission stations.
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