Hydro One (OTCMKTS:HRNNF) Trading Up 0.6% – Here’s What Happened

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

Analyst Ratings Changes

HRNNF has been the topic of a number of analyst reports. Jefferies Financial Group lowered shares of Hydro One from a “hold” rating to an “underperform” rating in a report on Monday. Royal Bank Of Canada reissued a “sector perform” rating on shares of Hydro One in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Hydro One in a research report on Monday, April 20th. Scotiabank restated a “sector perform” rating on shares of Hydro One in a report on Thursday, May 14th. Finally, TD Securities reiterated a “hold” rating on shares of Hydro One in a research note on Thursday, May 14th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Hydro One Stock Performance

The company has a market cap of $24.25 billion and a P/E ratio of 32.07. The business’s 50 day simple moving average is $42.23 and its 200 day simple moving average is $40.79. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.40.

Hydro One (OTCMKTS:HRNNF) last released its quarterly earnings data 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 for 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%.

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.