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An update from Hydro One ( (TSE:H) ) is now available.
Hydro One Networks Inc. has filed an application with the Ontario Energy Board to construct a new 230-kilovolt transmission line in the Niagara Region, with an investment of approximately $311 million. This project, expected to be completed by 2029, aims to enhance the capacity and reliability of the electricity grid, supporting local businesses and industries. The initiative also includes a partnership model offering First Nations a 50% equity stake, aligning with Hydro One’s strategic focus on growth and collaboration with indigenous communities.
The most recent analyst rating on (TSE:H) stock is a Hold with a C$54.00 price target. To see the full list of analyst forecasts on Hydro One stock, see the TSE:H Stock Forecast page.
Spark’s Take on TSE:H Stock
According to Spark, TipRanks’ AI Analyst, TSE:H is a Outperform.
Hydro One’s strong financial performance and positive technical indicators are the most significant factors driving the score. The company’s robust revenue growth and stable profitability are complemented by a positive market trend. However, high leverage and valuation concerns slightly offset these strengths. The earnings call provided additional confidence with positive guidance and strategic investments, despite some noted challenges.
To see Spark’s full report on TSE:H stock, click here.
More about Hydro One
Hydro One Limited is Ontario’s largest electricity transmission and distribution provider, serving 1.5 million customers with $36.7 billion in assets and $8.5 billion in annual revenues as of 2024. The company employs 10,100 people and is committed to community investment, sustainability, and diversity initiatives. Hydro One’s common shares are listed on the TSX, and it has a significant presence in the electricity infrastructure sector.
Average Trading Volume: 979,422
Technical Sentiment Signal: Buy
Current Market Cap: C$32.32B
For a thorough assessment of H stock, go to TipRanks’ Stock Analysis page.