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

Hydro One Limited (OTCMKTS:HRNNF) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $39.45 and last traded at $39.44, with a volume of 10346 shares traded. The stock had previously closed at $38.78.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HRNNF shares. CIBC reaffirmed a “neutral” rating on shares of Hydro One in a research note on Tuesday, October 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Hydro One in a research note on Friday, November 14th. TD Securities reiterated a “hold” rating on shares of Hydro One in a report on Friday, November 14th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Hydro One in a report on Friday, November 14th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Hydro One Stock Up 1.7%

The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market capitalization of $23.66 billion and a price-to-earnings ratio of 52.59. The firm’s fifty day simple moving average is $38.00 and its 200 day simple moving average is $36.62.

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.