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

Key Points

• Hydro One's shares hit a new 52-week high of $43.08 on Friday (previous close $41.77), with the stock up about 2.2% on the session.
• Analysts remain cautious: one Buy and five Hold produce a consensus rating of "Hold", with RBC, TD Securities and BMO reaffirming sector perform/hold views.
• Key fundamentals are mixed—market cap ~ $26B and a high P/E of 54.82, low liquidity (current and quick ratios 0.61) and debt/equity 1.42—while the latest quarter showed a slight EPS beat ($0.28 vs $0.27) but a significant revenue miss ($1.65B vs $2.49B).

Hydro One Limited (OTCMKTS:HRNNF - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $43.08 and last traded at $43.08, with a volume of 1011 shares changing hands. The stock had previously closed at $41.77.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Royal Bank Of Canada reissued a "sector perform" rating on shares of Hydro One in a research note on Tuesday, February 17th. TD Securities reissued a "hold" rating on shares of Hydro One in a research report on Wednesday, February 18th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Hydro One in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Hydro One Stock Up 2.2%

The firm's fifty day simple moving average is $40.03 and its 200 day simple moving average is $38.07. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.42. The company has a market cap of $25.98 billion and a price-to-earnings ratio of 54.82.

Hydro One (OTCMKTS:HRNNF - Get Free Report) last announced its quarterly earnings data on Friday, February 13th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $2.49 billion. Hydro One had a net margin of 14.82% and a return on equity of 10.72%.

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.

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