Hydro One (OTCMKTS:HRNNF) Sets New 1-Year High – Still a Buy?

Shares of Hydro One Limited (OTCMKTS:HRNNF) hit a new 52-week high during trading on Tuesday . The company traded as high as $42.25 and last traded at $42.25, with a volume of 100 shares changing hands. The stock had previously closed at $41.4825.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Securities reiterated a “hold” rating on shares of Hydro One in a research note on Wednesday, February 18th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Hydro One in a research note on Tuesday, February 17th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Hydro One in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hydro One has a consensus rating of “Hold”.

Hydro One Price Performance

The stock has a market capitalization of $25.34 billion and a P/E ratio of 53.48. The business’s 50 day moving average price is $39.49 and its 200 day moving average price is $37.79. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.61 and a quick ratio of 0.61.

Hydro One (OTCMKTS:HRNNF) last posted its earnings results on Friday, February 13th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $2.49 billion. Hydro One had a net margin of 14.82% and a return on equity of 10.72%.

About Hydro One

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.