FY2024 EPS Estimates for Hydro One Raised by Analyst

Hydro One Limited (TSE:H) – Research analysts at National Bank Financial raised their FY2024 earnings per share estimates for 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 earn $1.89 per share 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. 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 brokerages have also recently weighed in on H. Royal Bank of Canada raised their price target on shares of Hydro One from C$41.00 to C$43.00 and gave the company a “sector perform” rating in a research report on Thursday, October 3rd. Raymond James raised their target price on Hydro One from C$41.00 to C$45.00 in a report on Thursday, September 19th. Finally, CIBC upped their price target on Hydro One from C$45.00 to C$46.00 and gave the stock a “neutral” rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Hydro One has an average rating of “Hold” and a consensus target price of C$43.25.

Hydro One Stock Performance

Shares of H stock opened at C$43.58 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.30 and a debt-to-equity ratio of 137.11. The firm has a fifty day simple moving average of C$44.77 and a two-hundred day simple moving average of C$43.95. The firm has a market capitalization of C$26.12 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a 12 month low of C$37.27 and a 12 month high of C$48.05.

Insider Activity

In other Hydro One news, Director Stacey Mowbray acquired 700 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now owns 700 shares in the company, valued at approximately C$30,818.20. This represents a ∞ increase in their ownership of the stock. Insiders own 47.12% of the company’s stock.

Hydro One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.314 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.26 dividend on an annualized basis and a yield of 2.88%. Hydro One’s dividend payout ratio (DPR) is presently 67.38%.

About Hydro One

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.