Michael DecterHydro OneH.TODON'T BUYOct 03, 2023

It's a Hold, not a Sell, because there don't seem to be a lot of reasons for it to go down. Catching a tailwind as a bond proxy with bonds in rally mode. Good and safe dividend, will probably grow, well supported by cashflow. Well managed. Not a Buy, as there are better ideas. He owns FTS instead, as it's larger and more diversified.

Benefitting from more immigration to Ontario. A predictable utility that'll grow 5% annually, so just collect the dividend. Shares won't do much. It's a slow-growing business. But Fortis and Emera pay higher dividends.

Great company and business. Trading at 18x. Growing at peer average. Better names in sector to own. Would recommend holding. 

The outlook for utilities will improve as interest rates decline. They continue to raise their dividend, and they have a good track record.

Good quality. Likes it, but competitors in the space are a bit cheaper. Trades at 18x. Look to EMA, FTS, or ALA. As beaten-down dividend plays, the whole sector is a buy, but other stocks are cheaper.

The chart shows a long history of higher highs and lows. It's now testing its last low and will probably find support here and continue rising.

When it was partly privatized, it gave investors an opportunity to receive a yield, which has been consistent around 4%. But they're constrained and can't easily raise rates, though rates have jumped in the past year. This is solid for the yield, but doesn't see capital appreciation given where interest rates are.

It's performed well in the past 12-24 months. Ontario is one of the most difficult energy jurisdictions around. Hydro doesn't offer much growth, but it's stable. The dividend isn't enough to excite investors, so he prefers Fortis and others. It's okay to hang onto shares.