National Bank Financial Comments on Hydro One Limited’s Q1 2024 Earnings (TSE:H)

Hydro One Limited (TSE:H) – National Bank Financial issued their Q1 2024 earnings per share estimates for Hydro One in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings of $0.48 per share for the quarter. The consensus estimate for Hydro One’s current full-year earnings is $1.91 per share.

Other analysts have also issued reports about the company. TD Securities boosted their price target on Hydro One from C$37.00 to C$39.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. Raymond James upped their target price on Hydro One from C$40.00 to C$41.00 and gave the stock a “market perform” rating in a report on Wednesday, February 14th. CIBC dropped their target price on Hydro One from C$40.00 to C$39.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. National Bankshares upped their target price on Hydro One from C$35.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 30th. Finally, Wells Fargo & Company upped their target price on Hydro One from C$39.00 to C$40.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 14th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$39.56.

Hydro One Stock Performance

Shares of Hydro One stock opened at C$38.21 on Thursday. The firm has a market cap of C$22.89 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.90 and a beta of 0.31. The stock’s 50-day moving average is C$39.81 and its 200-day moving average is C$38.80. Hydro One has a one year low of C$32.79 and a one year high of C$41.69. The company has a debt-to-equity ratio of 133.77, a current ratio of 0.50 and a quick ratio of 0.30.

Hydro One (TSE:H) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C$0.30 EPS for the quarter, meeting analysts’ consensus estimates of C$0.30. The company had revenue of C$1.98 billion for the quarter. Hydro One had a return on equity of 9.45% and a net margin of 13.83%.

Hydro One Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, March 12th. Hydro One’s dividend payout ratio is currently 65.75%.

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.