Hydro One (OTCMKTS:HRNNF) Hits New 12-Month High – Time to Buy?

Hydro One Limited (OTCMKTS:HRNNF)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $40.79 and last traded at $40.79, with a volume of 109 shares trading hands. The stock had previously closed at $39.8175.

Wall Street Analyst Weigh In

HRNNF has been the subject of a number of research reports. BMO Capital Markets restated a “market perform” rating on shares of Hydro One in a report on Friday, November 14th. TD Securities restated a “hold” rating on shares of Hydro One in a research note on Friday, November 14th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Hydro One in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Hydro One in a report on Friday, November 14th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Hydro One Stock Performance

The firm has a market cap of $24.70 billion and a P/E ratio of 54.91. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average is $38.97 and its two-hundred day moving average is $37.46.

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.