Hydro One (OTCMKTS:HRNNF) Shares Gap Down – Should You Sell?

Hydro One Limited (OTCMKTS:HRNNF)’s share price gapped down before the market opened on Thursday. The stock had previously closed at $41.00, but opened at $36.22. Hydro One shares last traded at $41.17, with a volume of 2,483 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Hydro One in a report on Wednesday, October 28th. Barclays reiterated an “overweight” rating on shares of Hydro One in a research note on Friday, October 16th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Hydro One in a research report on Thursday, August 13th. BMO Capital Markets reissued a “market perform” rating on shares of Hydro One in a research report on Thursday, August 13th. Finally, Jefferies Financial Group restated an “underperform” rating on shares of Hydro One in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Hydro One Price Performance

The stock has a 50-day simple moving average of $37.49 and a 200 day simple moving average of $40.44. 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 company has a market cap of $24.51 billion and a P/E ratio of 23.88.

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

About Hydro One

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.