Hydro One FY2024 EPS Raised by National Bank Financial

Hydro One Limited (TSE:H) – Equities research analysts at National Bank Financial boosted their FY2024 EPS estimates for shares of Hydro One in a research report issued to clients and investors on Monday, January 6th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $1.89 per share for the year, up from their prior estimate of $1.88. The consensus estimate for Hydro One’s current full-year earnings is $2.06 per share. National Bank Financial also issued estimates for Hydro One’s FY2026 earnings at $2.18 EPS, FY2027 earnings at $2.25 EPS and FY2028 earnings at $2.28 EPS.

Several other analysts have also commented on H. Raymond James raised their price objective on shares of Hydro One from C$41.00 to C$45.00 in a report on Thursday, September 19th. CIBC upped their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of Hydro One from C$41.00 to C$43.00 and gave the stock a “sector perform” rating in a report on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hydro One currently has an average rating of “Hold” and an average target price of C$43.25.

Hydro One Stock Performance

Shares of TSE H opened at C$44.06 on Thursday. The stock has a market cap of C$26.41 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 3.17 and a beta of 0.34. The stock’s 50-day moving average is C$44.80 and its 200 day moving average is C$43.92. The company has a current ratio of 0.40, a quick ratio of 0.30 and a debt-to-equity ratio of 137.11. Hydro One has a 1-year low of C$37.27 and a 1-year high of C$48.05.

Insider Transactions at Hydro One

In other news, Director Stacey Mowbray acquired 700 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of C$44.03 per share, with a total value of C$30,818.20. Following the transaction, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. This represents a ∞ increase in their position. Corporate insiders own 47.12% of the company’s stock.

Hydro One Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.314 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, December 11th. Hydro One’s dividend payout ratio is currently 67.38%.

Hydro One Company Profile

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.