Hydro One (OTCMKTS:HRNNF) Stock Price Down 1% – Here’s Why

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

Analysts Set New Price Targets

A number of analysts have issued reports on HRNNF shares. TD Securities reissued a “hold” rating on shares of Hydro One in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Hydro One in a research note on Monday, April 20th. Jefferies Financial Group cut shares of Hydro One from a “hold” rating to an “underperform” rating in a research report on Monday, June 1st. BMO Capital Markets reissued a “market perform” rating on shares of Hydro One in a research report on Thursday, May 14th. Finally, Scotiabank restated a “sector 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Hydro One Trading Up 0.9%

The firm’s 50 day simple moving average is $41.67 and its 200-day simple moving average is $41.06. The company has a market capitalization of $24.96 billion and a PE ratio of 33.01. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.40.

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

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.