Hydro One (OTCMKTS:HRNNF) Shares Gap Up - Here's What Happened

Key Points

• Hydro One shares opened sharply higher, rising from a previous close of $37.23 to $38.72, although trading volume was very light at 102 shares.
• Analyst sentiment remains mixed but leans neutral: one analyst rates the stock Buy, five rate it Hold, and one rates it Sell, producing a consensus rating of “Hold.”
• In its latest quarterly results, Hydro One beat expectations with earnings of $0.45 per share versus $0.40 forecast and revenue of $1.62 billion versus the $1.58 billion estimate.

Hydro One Limited (OTCMKTS:HRNNF - Get Free Report)'s share price gapped up before the market opened on Friday. The stock had previously closed at $37.23, but opened at $38.72. Hydro One shares last traded at $38.72, with a volume of 102 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HRNNF shares. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Hydro One in a report on Thursday, August 13th. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Hydro One in a research report on Wednesday, August 19th. Barclays restated an "overweight" rating on shares of Hydro One in a research note on Friday, October 16th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Hydro One in a report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold".

Hydro One Price Performance

The business has a 50 day simple moving average of $37.39 and a 200-day simple moving average of $40.18. The firm has a market cap of $23.24 billion and a price-to-earnings ratio of 22.64. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.88 and a current ratio of 0.88.

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

Hydro One Company Profile

Hydro One Limited is an electricity transmission and distribution company based in Ontario, Canada. Through its operating subsidiaries, including Hydro One Networks Inc, the company owns and operates a large transmission network and provides electricity distribution services to residential, commercial and industrial customers across the province.

The company's activities include transporting high-voltage electricity from generating facilities to local utilities and large customers, distributing electricity through local networks, and maintaining and upgrading transmission and distribution infrastructure.

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