Hydro One (OTCMKTS:HRNNF) Trading 0.6% Higher – Should You Buy?

Hydro One Limited (OTCMKTS:HRNNF) was up 0.6% during mid-day trading on Thursday . The stock traded as high as $40.41 and last traded at $40.41. Approximately 936 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 99,406 shares. The stock had previously closed at $40.16.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Jefferies Financial Group cut Hydro One from a “hold” rating to an “underperform” rating in a report on Monday. Scotiabank restated a “sector perform” rating on shares of Hydro One in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Hydro One in a research note on Monday, April 20th. TD Securities reiterated a “hold” rating on shares of Hydro One in a report on Thursday, May 14th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Hydro One in a report on Thursday, May 14th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Hydro One presently has an average rating of “Reduce”.

Hydro One Stock Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $24.52 billion and a P/E ratio of 32.43. The business has a 50-day moving average price of $42.22 and a 200 day moving average price of $40.79.

Hydro One (OTCMKTS:HRNNF) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.79 billion. Hydro One had a net margin of 14.80% and a return on equity of 10.83%.

Hydro One Company Profile

Hydro One Ltd. is a Canadian electricity transmission and distribution utility headquartered in Toronto, Ontario. The company operates the largest high-voltage transmission network in the province, delivering power from generating stations to local distributors, municipalities and major industrial customers. In addition to its transmission business, Hydro One provides distribution services to a wide range of residential, commercial and industrial end users, maintaining poles, wires and related infrastructure that connect approximately 1.4 million customers across urban and rural communities.

Tracing its origins to the Ontario Hydro Electric Power Commission established in 1906, Hydro One emerged in its current form following the restructuring of Ontario’s vertically integrated power authority in the late 1990s and early 2000s.