In a new note to investors on February 21, an analyst has provided a rating update for the Utilities sector company, Hydro One (H). RBC Capital’s analyst Robert Kwan reiterates their Hold rating on the shares, with a C$22 price target.
Kwan has an average return of 0.0% when recommending Hydro One.
According to TipRanks.com, Kwan is ranked #176 out of 5194 analysts.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Hydro One with a C$21 average price target, implying a 3.4% upside from current levels. In a report issued on February 13, Raymond James also downgraded the stock to Hold with a C$23 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$198 million. In comparison, last year the company earned revenue of C$1.44 billion and had a net profit of C$160 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$20.31.
