TD Securities Remains a Hold on Hydro One

By Austin Angelo

Wall Street analyst has provided a review for the Utilities company yesterday, but retained the same rating on the stock. Analyst Linda Ezergailis from TD Securities rated Hydro One (TSX: H) a Hold, setting a C$23 price target.

According to TipRanks.com, Ezergailis is ranked #2288 out of 4702 analysts.

Currently, the analyst consensus on Hydro One is Moderate Buy and the average price target is C$25, representing a 10.3% upside.

In a report issued on November 10, Scotiabank also maintained a Hold rating on the stock with a C$24.50 price target.

Based on Hydro One’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$1.52 billion and quarterly net profit of C$219 million. In comparison, last year the company earned revenue of C$1.71 billion and had a net profit of C$237 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 Monday at C$22.66.