Hydro One (OTCMKTS:HRNNF) Releases Quarterly Earnings Results

Hydro One (OTCMKTS:HRNNF) announced its quarterly earnings data on Wednesday. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05, Zacks reports. Hydro One had a return on equity of 10.83% and a net margin of 14.80%.

Hydro One Stock Up 1.4%

Hydro One stock traded up $0.56 during mid-day trading on Wednesday, hitting $40.84. The company’s stock had a trading volume of 275 shares, compared to its average volume of 90,581. Hydro One has a 52-week low of $35.12 and a 52-week high of $44.02. The company has a market cap of $24.51 billion and a PE ratio of 32.42. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s 50 day moving average is $41.10 and its 200 day moving average is $41.61.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. TD Securities reaffirmed a “hold” rating on shares of Hydro One in a research report on Thursday, May 14th. BMO Capital Markets reiterated a “market perform” rating on shares of Hydro One in a research report on Thursday, May 14th. Jefferies Financial Group downgraded Hydro One from a “hold” rating to an “underperform” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Hydro One in a report on Monday, April 20th. Finally, Scotiabank reissued a “sector perform” rating on shares of Hydro One in a research report on Thursday, May 14th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hydro One presently has an average rating of “Reduce”.

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.