Yesterday, an analyst has provided a rating update for the Utilities sector company, Hydro One (TSX: H). Analyst Robert Catellier from CIBC remains neutral on the stock and has a C$24 price target.
According to TipRanks.com, Catellier is ranked #2518 out of 4800 analysts.
Currently, the analyst consensus on Hydro One is Moderate Sell and the average price target is C$22, representing a 13.8% upside.
In a report released yesterday, Canaccord Genuity also maintained a Hold rating on the stock with a C$23 price target.
Based on Hydro One’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.58 billion and net profit of C$227 million. In comparison, last year the company earned revenue of C$1.66 billion and had a net profit of C$172 million.
Hydro One Ltd. engages in the transmission and distribution of electricity. It operates through the following segments: Transmission, Distribution, and Other Business. The Transmission segment owns, operates, and maintains electricity transmission networks. The Distribution segment manages the distribution system through the Hydro One Networks Inc.
The company’s shares closed on Tuesday at C$19.34, close to its 52-week low of C$19.19.
