National Bank Financial Trims Hydro One (H) Target Price to C$21.00

Hydro One (TSE:H) had its price objective reduced by analysts at National Bank Financial from C$23.00 to C$21.00 in a note issued to investors on Friday. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s target price points to a potential upside of 9.15% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Industrial Alliance Securities cut their price target on Hydro One from C$24.00 to C$21.00 in a report on Tuesday, October 9th. TD Securities cut their price target on Hydro One from C$21.00 to C$20.00 in a report on Wednesday, August 15th. BMO Capital Markets cut their price target on Hydro One from C$22.50 to C$21.00 in a report on Tuesday, July 24th. CIBC cut their price target on Hydro One from C$24.00 to C$20.50 in a report on Thursday, July 12th. Finally, CSFB downgraded Hydro One from an “outperform” rating to a “neutral” rating and set a C$22.00 price target for the company. in a report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of C$21.28.

Shares of TSE H traded down C$0.16 during trading hours on Friday, hitting C$19.24. The company had a trading volume of 288,415 shares, compared to its average volume of 738,855. Hydro One has a 1-year low of C$18.57 and a 1-year high of C$23.04.

Hydro One (TSE:H) last announced its quarterly earnings results on Tuesday, August 14th. The company reported C$0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.24 by C$0.08. The business had revenue of C$1.48 billion for the quarter.

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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