Hydro One (OTCMKTS:HRNNF) Hits New 1-Year Low – Here’s Why

Hydro One Limited (OTCMKTS:HRNNF)’s share price hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $35.46 and last traded at $35.46, with a volume of 223 shares changing hands. The stock had previously closed at $35.74.

Analysts Set New Price Targets

A number of analysts have weighed in on HRNNF shares. Barclays restated an “overweight” rating on shares of Hydro One in a research report on Thursday, August 13th. Jefferies Financial Group reiterated an “underperform” rating on shares of Hydro One in a research note on Wednesday, August 19th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Hydro One in a report on Thursday, August 13th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Hydro One in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Hydro One Stock Down 0.8%

The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day simple moving average is $38.15 and its two-hundred day simple moving average is $40.49. The stock has a market capitalization of $21.28 billion and a P/E ratio of 20.74.

Hydro One (OTCMKTS:HRNNF) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.58 billion. Hydro One had a net margin of 14.88% and a return on equity of 11.02%.

Hydro One Company Profile

Hydro One Limited is an electricity transmission and distribution utility serving customers across Ontario, Canada. The company operates and maintains a large transmission network that moves electricity from generating facilities to local distribution systems, as well as distribution infrastructure that delivers power to homes, businesses and other customers.

Through its regulated utility operations, Hydro One provides services including electricity delivery, grid maintenance, system planning, emergency restoration and connection of new customers.