Hydro One Sets Sights on Ambitious Growth
In a move that’s set to send shockwaves through the Canadian utility sector, Hydro One has unveiled a bold plan to drive earnings per share (EPS) growth through 2027. The company, a stalwart in the Canadian energy landscape, is targeting a robust 6-8% EPS growth over the next four years.
At the heart of this ambitious plan lies a significant investment commitment. Hydro One has allocated a substantial $3.1 billion for capital expenditures in 2024, a clear indication of the company’s confidence in its growth prospects. This injection of capital will be crucial in driving the company’s strategic objectives, including the expansion of its renewable energy portfolio and the enhancement of its grid infrastructure.
As of the last close, Hydro One’s stock price stood at 50.36 CAD, a reflection of the company’s steady performance over the past year. The stock has touched a 52-week high of 50.725 CAD and a low of 37.27 CAD, demonstrating the volatility that’s inherent in the utility sector. However, the company’s price-to-earnings ratio of 25.36 and price-to-book ratio of 2.38158 suggest that investors remain optimistic about Hydro One’s prospects.
Key Statistics
- Stock price: 50.36 CAD (as of last close)
- 52-week high: 50.725 CAD
- 52-week low: 37.27 CAD
- Price-to-earnings ratio: 25.36
- Price-to-book ratio: 2.38158