Hydro One (OTCMKTS:HRNNF) Trading 0.6% Higher – Time to Buy?

Hydro One Limited (OTCMKTS:HRNNF) shares were up 0.6% during trading on Thursday . The company traded as high as $40.41 and last traded at $40.41. Approximately 936 shares changed hands during trading, a decline of 99% from the average daily volume of 99,406 shares. The stock had previously closed at $40.16.

Analysts Set New Price Targets

HRNNF has been the subject of several recent analyst reports. Scotiabank reaffirmed a “sector perform” rating on shares of Hydro One in a report on Thursday, May 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Hydro One in a research note on Thursday, May 14th. Jefferies Financial Group cut shares of Hydro One from a “hold” rating to an “underperform” rating in a research note on Monday. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Hydro One in a research report on Monday, April 20th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Hydro One in a report on Tuesday, February 17th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hydro One presently has a consensus rating of “Reduce”.

Hydro One Stock Performance

The stock’s fifty day moving average price is $42.23 and its two-hundred day moving average price is $40.79. The company has a market cap of $24.25 billion and a P/E ratio of 32.07. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.54 and a current ratio of 0.54.

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

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.