Analysts Issue Forecasts for Hydro One FY2024 Earnings

Hydro One Limited (TSE:H - Free Report) - National Bank Financial upped their FY2024 earnings estimates for shares of Hydro One in a research note issued on Monday, January 6th. National Bank Financial analyst P. Kenny now anticipates 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.

A number of other equities analysts have also recently weighed in on H. Raymond James upped their price objective on shares of Hydro One from C$41.00 to C$45.00 in a research report on Thursday, September 19th. Royal Bank of Canada lifted their price objective 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. Finally, CIBC increased their target price on Hydro One from C$45.00 to C$46.00 and gave the company a "neutral" rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat, Hydro One has a consensus rating of "Hold" and an average target price of C$43.25.

Hydro One Stock Down 0.7 %

TSE H traded down C$0.30 during trading hours on Thursday, hitting C$44.06. The company had a trading volume of 257,602 shares, compared to its average volume of 546,716. Hydro One has a fifty-two week low of C$37.27 and a fifty-two week high of C$48.05. The company has a market capitalization of C$26.41 billion, a price-to-earnings ratio of 23.56, a P/E/G 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. The firm's 50 day moving average is C$44.80 and its 200 day moving average is C$43.92.

Hydro One Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 yield of 2.85%. Hydro One's payout ratio is 67.38%.

Insiders Place Their Bets

In other Hydro One news, Director Stacey Mowbray bought 700 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of C$44.03 per share, with a total value of C$30,818.20. Following the completion of the purchase, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. This trade represents a ∞ increase in their ownership of the stock. 47.12% of the stock is currently owned by insiders.

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.