Hydro One Receives a Buy from Canaccord Genuity

In a latest note to investors, a research analyst has provided a rating update for the Utilities sector company, Hydro One (TSX: H). The company received a Buy today from Canaccord Genuity’s analyst David Galison, with a C$22 price target.

According to TipRanks.com, Galison is ranked #870 out of 4838 analysts.

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

Hydro One’s market cap is currently C$11.97B and has a P/E ratio of 16.8. The company has a Price to Book ratio of 1.22.

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 Wednesday at C$20.17.

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