Scotiabank Issues Optimistic Estimate for Hydro One Earnings

Hydro One Limited (TSE:H) – Analysts at Scotiabank boosted 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 earn $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. Scotiabank also issued estimates for Hydro One’s FY2026 earnings at $2.13 EPS.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada boosted their target price 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. Raymond James boosted their price objective on shares of Hydro One from C$41.00 to C$45.00 in a research report on Thursday, September 19th. Finally, CIBC raised 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. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$43.25.

Hydro One Stock Down 0.7 %

Shares of TSE:H opened at C$44.06 on Friday. Hydro One has a 1 year low of C$37.27 and a 1 year high of C$48.05. The company has a debt-to-equity ratio of 137.11, a current ratio of 0.40 and a quick ratio of 0.30. 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 market cap of C$26.41 billion, a PE ratio of 23.56, a P/E/G ratio of 3.17 and a beta of 0.34.

Insider Transactions at Hydro One

In other Hydro One news, Director Stacey Mowbray purchased 700 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price 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. This trade represents a ∞ increase in their ownership of the stock. 47.12% of the stock is owned by insiders.

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. The ex-dividend date was Wednesday, December 11th. This represents a $1.26 annualized dividend and a dividend yield of 2.85%. Hydro One’s payout ratio 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.