Hydro One (H), the Utilities sector company, has received a rating update from a Wall Street analyst today. The company received a Hold rating from CIBC’s analyst Robert Catellier, with a C$19.75 price target.
According to TipRanks.com, Catellier is a 2-star analyst with an average return of 0.0% and a 51.0% success rate. Catellier covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.
Currently, the analyst consensus on Hydro One is a Hold with an average price target of C$20.75, representing a 7.5% upside. In a report released today, National Bank also maintained a Hold rating on the stock with a C$21 price target.
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Based on Hydro One’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$1.61 billion and net profit of C$194 million. In comparison, last year the company earned revenue of C$1.52 billion and had a net profit of C$223 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 Friday at C$19.30, close to its 52-week low of C$18.57.
