National Bank Financial Forecasts Hydro One FY2024 Earnings

Hydro One Limited (TSE:H) – Research analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for shares of Hydro One in a research note issued to investors on Monday, January 6th. National Bank Financial analyst P. Kenny now expects 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. 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 equities research analysts have also recently weighed in on H. CIBC increased their price target on Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a research note on Wednesday. Raymond James boosted their price target on shares of Hydro One from C$41.00 to C$45.00 in a research note on Thursday, September 19th. Finally, Royal Bank of Canada increased 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 report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, Hydro One currently has an average rating of “Hold” and an average price target of C$43.25.

Hydro One Trading Down 0.7 %

Shares of TSE:H opened at C$44.06 on Thursday. The stock has a market capitalization of C$26.41 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. 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 company’s 50-day moving average price is C$44.80 and its two-hundred day moving average price is C$43.92.

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 annualized dividend and a yield of 2.85%. Hydro One’s dividend payout ratio (DPR) is 67.38%.

Insider Buying and Selling at Hydro One

In other news, Director Stacey Mowbray bought 700 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of C$44.03 per share, with a total value of C$30,818.20. Following the acquisition, the director now owns 700 shares of the company’s stock, valued at approximately C$30,818.20. This represents a ∞ increase in their position. 47.12% of the stock is owned by corporate 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.