Hydro One (OTCMKTS:HRNNF) Trading Down 1% – Should You Sell?

Hydro One Limited (OTCMKTS:HRNNF)’s stock price fell 1% during mid-day trading on Tuesday . The company traded as low as $41.17 and last traded at $41.30. Approximately 54,670 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 86,615 shares. The stock had previously closed at $41.71.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HRNNF. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Hydro One in a research report on Monday, April 20th. Scotiabank reiterated a “sector perform” rating on shares of Hydro One in a research report on Thursday, May 14th. Jefferies Financial Group cut Hydro One from a “hold” rating to an “underperform” rating in a report on Monday, June 1st. TD Securities restated a “hold” rating on shares of Hydro One in a research note on Thursday, May 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Hydro One in a report on Thursday, May 14th. 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.com, Hydro One currently has a consensus rating of “Reduce”.

Hydro One Price Performance

The stock has a 50-day simple moving average of $41.69 and a 200 day simple moving average of $41.04. The stock has a market capitalization of $24.78 billion and a P/E ratio of 32.78. 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 released its earnings results on Wednesday, May 13th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Hydro One had a return on equity of 10.83% and a net margin of 14.80%.The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.79 billion.

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.