Hydro One Limited (OTCMKTS:HRNNF) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Hydro One Limited (OTCMKTS:HRNNF) have earned a consensus rating of “Reduce” from the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company.

HRNNF has been the topic of a number of recent research reports. Jefferies Financial Group cut shares of Hydro One from a “hold” rating to an “underperform” rating in a report on Monday, June 1st. BMO Capital Markets reiterated a “market perform” rating on shares of Hydro One in a report on Thursday, May 14th. TD Securities reissued a “hold” rating on shares of Hydro One in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Hydro One in a research note on Monday, April 20th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Hydro One in a research report on Thursday, May 14th.

Hydro One Stock Performance

Shares of HRNNF stock opened at $41.22 on Friday. The company’s fifty day moving average price is $41.54 and its 200-day moving average price is $41.18. The stock has a market cap of $24.74 billion and a PE ratio of 32.71. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.40. Hydro One has a 12 month low of $33.56 and a 12 month high of $44.02.

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

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.