CIBC Sticks to Its Hold Rating for Hydro One (H)

A Wall Street analyst has provided a rating update for the Utilities sector company yesterday, while remaining neutral on the stock. Hydro One (HResearch Report) received a Hold rating from CIBC’s analyst Robert Catellier, with a C$20 price target.

According to TipRanks.com, Catellier is a 2-star analyst with an average return of -0.5% and a 53.5% success rate. Catellier covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.

Hydro One has an analyst consensus of Moderate Buy, with a price target consensus of C$22.

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$1.52 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 Thursday at C$21.26.

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