What is Scotiabank's Estimate for Hydro One FY2024 Earnings?

Hydro One Limited (TSE:H - Free Report) - Scotiabank raised their FY2024 earnings per share (EPS) estimates for shares of Hydro One in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the company will post earnings per share of $1.89 for the year, up from their previous 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.

A number of other research analysts have also recently issued reports on H. Raymond James lifted their target price on shares of Hydro One from C$41.00 to C$45.00 in a research note on Thursday, September 19th. CIBC lifted their price objective on 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 increased their target price on 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. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Hydro One presently has a consensus rating of "Hold" and an average price target of C$43.25.

Hydro One Price Performance

Shares of H traded down C$0.48 during mid-day trading on Friday, reaching C$43.58. The company had a trading volume of 704,866 shares, compared to its average volume of 569,309. The company's 50-day moving average is C$44.77 and its 200-day moving average is C$43.95. 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 company has a market capitalization of C$26.12 billion, a P/E ratio of 23.30, a P/E/G ratio of 3.17 and a beta of 0.34. Hydro One has a twelve month low of C$37.27 and a twelve month high of C$48.05.

Hydro One Dividend Announcement

The business also recently disclosed 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. 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 67.38%.

Insider Buying and Selling

In other news, Director Stacey Mowbray bought 700 shares of the business's stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of C$44.03 per share, for a total transaction of C$30,818.20. Following the purchase, the director now owns 700 shares of the company's stock, valued at approximately C$30,818.20. The trade was a ∞ increase in their position. 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.