Hydro One Limited (OTCMKTS:HRNNF) Given Consensus Rating of “Reduce” by Brokerages

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

Several research analysts recently issued reports on HRNNF shares. Jefferies Financial Group lowered shares of Hydro One from a “hold” rating to an “underperform” rating in a research report on Monday, June 1st. Scotiabank restated a “sector perform” rating on shares of Hydro One in a research report on Thursday, May 14th. TD Securities reaffirmed a “hold” rating on shares of Hydro One in a research note on Thursday, May 14th. BMO Capital Markets reiterated a “market perform” rating on shares of Hydro One in a research report on Thursday, May 14th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Hydro One in a report on Monday, April 20th.

Hydro One Trading Up 0.9%

Shares of HRNNF opened at $41.59 on Friday. Hydro One has a 1-year low of $33.56 and a 1-year high of $44.02. The company has a market capitalization of $24.96 billion and a P/E ratio of 33.01. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s 50 day simple moving average is $41.66 and its 200 day simple moving average is $41.08.

Hydro One (OTCMKTS:HRNNF) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.79 billion. Hydro One had a net margin of 14.80% and a return on equity of 10.83%.

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.