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National Bank Keeps a Hold Rating on Hydro One (H)


A Wall Street analyst has provided a rating update for the Utilities sector company today, while remaining neutral on the stock. Hydro One (H) received a Hold rating from National Bank’s analyst Patrick Kenny, with a C$21 price target.

According to TipRanks.com, Kenny is a 2-star analyst with an average return of 3.0% and a 36.4% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.

The word on The Street in general, suggests a Hold analyst consensus rating for Hydro One with a C$20.75 average price target, representing a 7.5% upside. In a report released today, CIBC also maintained a Hold rating on the stock with a C$19.75 price target.

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Hydro One’s market cap is currently C$11.56B and has a P/E ratio of 14.5. The company has a Price to Book ratio of 1.16.

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.