FY2024 Earnings Estimate for Hydro One Issued By Scotiabank

Hydro One Limited (TSE:H) – Scotiabank lifted their FY2024 EPS estimates for Hydro One in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will post earnings per share of $1.89 for the year, up from their prior forecast of $1.88. The consensus estimate for Hydro One’s current full-year earnings is $2.06 per share. Scotiabank also issued estimates for Hydro One’s FY2026 earnings at $2.13 EPS.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada increased their target price 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. Raymond James increased their price objective on shares of Hydro One from C$41.00 to C$45.00 in a research note on Thursday, September 19th. Finally, CIBC lifted their target price on Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$43.25.

Hydro One Price Performance

H opened at C$43.58 on Friday. The company has a market capitalization of C$26.12 billion, a P/E ratio of 23.30, a PEG ratio of 3.17 and a beta of 0.34. The company has a 50-day moving average of C$44.77 and a 200-day moving average of C$43.95. The company has a debt-to-equity ratio of 137.11, a quick ratio of 0.30 and a current ratio of 0.40. Hydro One has a 1-year low of C$37.27 and a 1-year high of C$48.05.

Hydro One Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.314 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Wednesday, December 11th. Hydro One’s dividend payout ratio is currently 67.38%.

Insider Transactions at Hydro One

In other Hydro One news, Director Stacey Mowbray bought 700 shares of Hydro One stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of C$44.03 per share, for a total transaction of C$30,818.20. Following the completion of the purchase, the director now directly owns 700 shares of the company’s stock, valued at C$30,818.20. The trade was a ∞ increase in their ownership of the stock. 47.12% of the stock is currently owned by company insiders.

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.