Hydro One (OTCMKTS:HRNNF) Hits New 52-Week High – Time to Buy?

Shares of Hydro One Limited (OTCMKTS:HRNNF) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $39.45 and last traded at $39.44, with a volume of 10346 shares. The stock had previously closed at $38.78.

Wall Street Analysts Forecast Growth

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

Hydro One Stock Up 1.7%

The firm has a fifty day moving average of $38.00 and a 200-day moving average of $36.62. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 1.30. The firm has a market cap of $23.66 billion and a P/E ratio of 52.59.

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.