Hydro One (OTCMKTS:HRNNF) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Hydro One Limited (OTCMKTS:HRNNF) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $40.42 and traded as high as $41.00. Hydro One shares last traded at $41.00, with a volume of 35,779 shares traded.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HRNNF shares. BMO Capital Markets reiterated a “market perform” rating on shares of Hydro One in a research note on Thursday, August 13th. Jefferies Financial Group restated an “underperform” rating on shares of Hydro One in a research report on Wednesday, August 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Hydro One in a report on Thursday, August 13th. Barclays reaffirmed an “overweight” rating on shares of Hydro One in a research report on Friday, October 16th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Hydro One in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Hydro One currently has a consensus rating of “Hold”.

Hydro One Trading Up 2.7%

The firm has a market cap of $24.60 billion and a P/E ratio of 23.98. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day moving average of $37.39 and a 200-day moving average of $40.42.

Hydro One (OTCMKTS:HRNNF) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.58 billion. Hydro One had a return on equity of 11.02% and a net margin of 14.88%.

About Hydro One

Hydro One Limited is an electricity transmission and distribution company based in Ontario, Canada. Through its operating subsidiaries, including Hydro One Networks Inc, the company owns and operates a large transmission network and provides electricity distribution services to residential, commercial and industrial customers across the province.

The company’s activities include transporting high-voltage electricity from generating facilities to local utilities and large customers, distributing electricity through local networks, and maintaining and upgrading transmission and distribution infrastructure.