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

Shares of Hydro One Limited (OTCMKTS:HRNNF) have been given a consensus rating of “Reduce” by the seven research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company.

Several research analysts have issued reports on HRNNF shares. Scotiabank reiterated a “sector perform” rating on shares of Hydro One in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Hydro One in a report on Monday, April 20th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Hydro One in a report on Tuesday, February 17th. TD Securities reiterated a “hold” rating on shares of Hydro One in a report on Thursday, May 14th. Finally, Jefferies Financial Group cut shares of Hydro One from a “hold” rating to an “underperform” rating in a report on Monday, June 1st.

Hydro One Stock Performance

OTCMKTS HRNNF opened at $40.86 on Monday. The company’s 50-day moving average price is $42.22 and its 200-day moving average price is $40.81. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.40. The stock has a market cap of $24.52 billion and a PE ratio of 32.43. Hydro One has a 12 month low of $33.56 and a 12 month high of $44.02.

Hydro One (OTCMKTS:HRNNF) last issued 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 net margin of 14.80% and a return on equity of 10.83%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations 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.