National Bank Keeps Their Hold Rating on Hydro One (H)
Today, an analyst has provided a rating update for the Utilities sector company, Hydro One (H). National Bank’s analyst Patrick Kenny reiterates their Hold rating on the shares, with a C$23 price target.
According to TipRanks.com, Kenny is a 2-star analyst with an average return of -1.0% 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.
Currently, the analyst consensus on Hydro One is a Moderate Buy with an average price target of C$22.50, which is a 4.9% upside from current levels. In a report released yesterday, CIBC also reiterated a Hold rating on the stock with a C$20 price target.
Hydro One’s market cap is currently C$12.14B and has a P/E ratio of 15.7. The company has a Price to Book ratio of 1.21.
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 Thursday at C$21.44.