Hydro One (OTCMKTS:HRNNF) Hits New 1-Year High – Still a Buy?

Hydro One Limited (OTCMKTS:HRNNF)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $39.6450 and last traded at $39.6450, with a volume of 117 shares changing hands. The stock had previously closed at $39.52.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HRNNF shares. CIBC reaffirmed a “neutral” rating on shares of Hydro One in a research report on Tuesday, October 21st. BMO Capital Markets restated a “market perform” rating on shares of Hydro One in a report on Friday, November 14th. TD Securities reaffirmed a “hold” 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 analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Hydro One has a consensus rating of “Hold”.

Hydro One Price Performance

The firm has a market cap of $23.78 billion and a P/E ratio of 52.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.44 and a quick ratio of 0.44. The firm’s 50 day moving average is $38.18 and its 200 day moving average is $36.72.

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.