CIBC Reiterates a Hold Rating on Hydro One

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Utilities sector company, Hydro One (TSX: H). Analyst Robert Catellier from CIBC reiterated a Hold rating, with a C$20.50 price target yesterday.

According to TipRanks.com, Catellier is ranked #1872 out of 4842 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for Hydro One with a C$21.13 average price target.

Based on Hydro One’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.58 billion and net profit of C$227 million. In comparison, last year the company earned revenue of C$1.37 billion and had a net profit of C$121 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 Wednesday at C$20.17.