FY2024 Earnings Forecast for Hydro One Issued By Scotiabank

Hydro One Limited (TSE:H) – Analysts at Scotiabank upped their FY2024 earnings per share (EPS) estimates for shares of Hydro One in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will post earnings per share of $1.89 for the year, up from their previous 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.

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

Hydro One Stock Performance

Shares of H stock opened at C$44.06 on Friday. The company has a debt-to-equity ratio of 137.11, a current ratio of 0.40 and a quick ratio of 0.30. Hydro One has a one year low of C$37.27 and a one year high of C$48.05. The business’s 50 day simple moving average is C$44.80 and its 200 day simple moving average is C$43.92. The stock has a market capitalization of C$26.41 billion, a PE ratio of 23.56, a PEG ratio of 3.17 and a beta of 0.34.

Hydro One Announces Dividend

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

Insider Transactions at Hydro One

In other news, Director Stacey Mowbray purchased 700 shares of the stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of C$44.03 per share, for a total transaction of C$30,818.20. Following the completion of the transaction, the director now directly owns 700 shares of the company’s stock, valued at approximately C$30,818.20. This trade represents a ∞ increase in their position. 47.12% of the stock is owned by 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.