Scotiabank Has Strong Forecast for Hydro One FY2024 Earnings

Hydro One Limited (TSE:H) – Equities research analysts at Scotiabank raised their FY2024 EPS estimates for shares of Hydro One in a report released on Wednesday, January 8th. Scotiabank analyst R. Hope 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. Scotiabank also issued estimates for Hydro One’s FY2026 earnings at $2.13 EPS.

Several other equities analysts have also issued reports on H. Royal Bank of Canada boosted 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 report on Thursday, October 3rd. CIBC boosted 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. Finally, Raymond James raised their price target on Hydro One from C$41.00 to C$45.00 in a research report on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$43.25.

Hydro One Stock Down 1.1 %

Shares of TSE:H opened at C$43.58 on Friday. The company has a 50 day moving average price of C$44.77 and a two-hundred day moving average price of C$43.95. The company has a debt-to-equity ratio of 137.11, a quick ratio of 0.30 and a current ratio of 0.40. The company has a market capitalization of C$26.12 billion, a PE ratio of 23.30, a PEG ratio of 3.17 and a beta of 0.34. Hydro One has a 52 week low of C$37.27 and a 52 week high of C$48.05.

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 $0.314 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, December 11th. Hydro One’s dividend payout ratio (DPR) is currently 67.38%.

Insider Buying and Selling at Hydro One

In other news, Director Stacey Mowbray acquired 700 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 700 shares in the company, valued at approximately C$30,818.20. The trade was a ? increase in their position. Company insiders own 47.12% of the company’s stock.

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.