Hydro One (OTCMKTS:HRNNF) Stock Breaks Above 200 Day Moving Average – Time to Sell?

Hydro One Limited (OTCMKTS:HRNNF)’s stock price passed 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 changing hands.

Wall Street Analyst Weigh In

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

Hydro One Stock Performance

The company has a market cap of $24.60 billion and a P/E ratio of 23.98. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.49. The company has a 50 day moving average price of $37.39 and a 200-day moving average price of $40.42.

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

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.