Hydro One Limited (OTCMKTS:HRNNF) Given Average Rating of “Reduce” by Brokerages

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

A number of analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of Hydro One in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Hydro One in a research note on Monday, April 20th. Scotiabank reaffirmed a “sector perform” rating on shares of Hydro One in a research note on Thursday, May 14th. Jefferies Financial Group downgraded shares of Hydro One from a “hold” rating to an “underperform” rating in a research report on Monday, June 1st. Finally, TD Securities reissued a “hold” rating on shares of Hydro One in a research report on Thursday, May 14th.

Hydro One Stock Performance

Hydro One stock opened at $40.44 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average of $42.13 and a 200-day moving average of $40.88. The firm has a market cap of $24.27 billion and a P/E ratio of 32.10. Hydro One has a 1-year low of $33.56 and a 1-year high of $44.02.

Hydro One (OTCMKTS:HRNNF) last posted its earnings results on Wednesday, May 13th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates 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.