Hydro One (OTCMKTS:HRNNF) Reaches New 52-Week High – Here’s Why

Hydro One Limited (OTCMKTS:HRNNF)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $39.6450 and last traded at $39.6450, with a volume of 117 shares. The stock had previously closed at $39.52.

Analysts Set New Price Targets

HRNNF has been the subject of several research analyst reports. CIBC reaffirmed a “neutral” rating on shares of Hydro One in a report on Tuesday, October 21st. TD Securities restated a “hold” rating on shares of Hydro One in a research note on Friday, November 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Hydro One in a research report on Friday, November 14th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Hydro One in a report on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Hydro One presently has an average rating of “Hold”.

Hydro One Trading Up 0.4%

The company has a debt-to-equity ratio of 1.30, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a 50-day moving average price of $38.18 and a two-hundred day moving average price of $36.72. The stock has a market cap of $23.78 billion and a PE ratio of 52.86.

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.