Hydro One Limited (OTCMKTS:HRNNF) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Hydro One Limited (OTCMKTS:HRNNF) have received an average rating of “Reduce” from the seven research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company.

HRNNF has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed 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 research report on Thursday, May 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Hydro One in a report on Thursday, May 14th. Jefferies Financial Group lowered shares of Hydro One from a “hold” rating to an “underperform” rating in a research report on Monday, June 1st. Finally, TD Securities reissued a “hold” rating on shares of Hydro One in a research note on Thursday, May 14th.

Hydro One Price Performance

Shares of OTCMKTS HRNNF opened at $40.81 on Friday. The business has a fifty day moving average price of $41.59 and a two-hundred day moving average price of $41.14. The stock has a market capitalization of $24.49 billion and a PE ratio of 32.39. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.54 and a quick ratio of 0.54. Hydro One has a fifty-two week low of $33.56 and a fifty-two week high of $44.02.

Hydro One (OTCMKTS:HRNNF) last released its earnings results on Wednesday, May 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.79 billion.

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.