Hydro One (H) Given New C$24.00 Price Target at CIBC

Hydro One (TSE:H) had its price target trimmed by CIBC from C$26.00 to C$24.00 in a report published on Wednesday.

A number of other brokerages have also recently commented on H. National Bank Financial cut Hydro One from an outperform overweight rating to a sector perform overweight rating in a report on Sunday, January 28th. Canaccord Genuity cut Hydro One from a buy rating to a hold rating and reduced their target price for the company from C$24.00 to C$23.00 in a report on Wednesday, March 28th. BMO Capital Markets reduced their target price on Hydro One from C$24.50 to C$23.50 in a report on Tuesday, February 6th. Raymond James reduced their target price on Hydro One from C$26.00 to C$25.00 and set an outperform rating for the company in a report on Wednesday, February 14th. Finally, Royal Bank of Canada reduced their target price on Hydro One from C$28.00 to C$26.00 and set an outperform rating for the company in a report on Wednesday, February 14th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of C$23.86.

Shares of Hydro One stock opened at C$19.10 on Wednesday. Hydro One has a 12 month low of C$18.93 and a 12 month high of C$23.98.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 12th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, June 11th. This is a boost from Hydro One’s previous quarterly dividend of $0.22.

Hydro One Company Profile

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.

Analyst Recommendations for Hydro One (TSE:H)

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