Company Reports

In 2015, the province of Ontario began the privatization of Hydro One through a series of initial public offerings. Even though the province is a minority shareholder, it still holds influence on the future of the company.

Hydro One reported second-quarter earnings per share of CAD 0.62, up from CAD 0.54 in the same year-ago period.

Hydro One reported first-quarter operating earnings per share of CAD 0.65, up from CAD 0.60 in the same year-ago period.

In 2015, the province of Ontario began the privatization of Hydro One through a series of initial public offerings. Even though the province is a minority shareholder, it holds an outsize influence on the future of the company. The political atmosphere has stabilized for Hydro One, reducing the risk of politicians' future interference.

Hydro One reported full-year 2025 operating earnings per share of CAD 2.23, up from CAD 1.93 in 2024.

In 2015, the province of Ontario began the privatization of Hydro One through a series of initial public offerings. Even though the province is a minority shareholder, it holds an outsize influence on the future of the company. The political atmosphere has stabilized for Hydro One, reducing the risk of politicians' future interference.

Hydro One reported third-quarter operating earnings per share of CAD 0.70, up from CAD 0.62 in the year-ago quarter, putting the company on track to meet our full-year expectations.

In 2015, the province of Ontario began the privatization of Hydro One through a series of initial public offerings. Even though the province is a minority shareholder, it holds an outsize influence on the future of the company. The political atmosphere has stabilized for Hydro One, reducing the risk of politicians' future interference.

Hydro One reported second-quarter operating earnings per share of CAD 0.54, up from CAD 0.49 in the year-ago quarter, putting the company on track to meet our full-year expectations.

Hydro One reported first-quarter operating earnings per share of CAD 0.60, up from CAD 0.49 in the same year-ago quarter, putting the company on track to meet our full-year expectations.

Utilities have limited direct exposure to the tariffs announced by the Trump administration, but falling energy demand or regulatory pushback to utilities' investment plans could slow earnings growth if economic conditions deteriorate.

In 2015, the province of Ontario began the privatization of Hydro One through a series of initial public offerings. Even though the province is a minority shareholder, it holds an outsize influence on the future of the company. The political atmosphere has stabilized for Hydro One, reducing the risk of politicians' future interference.

Hydro One reported 2024 operating earnings per share of CAD 1.93, up from CAD 1.81 in 2023, in line with our full-year expectations.

In 2015, the province of Ontario began the privatization of Hydro One through a series of initial public offerings. Even though the province is a minority shareholder, it holds an outsize influence on the future of the company. The political atmosphere has stabilized for Hydro One, reducing the risk of politicians' future interference.

We are maintaining our CAD 37 per share fair value estimate for Hydro One after the company reported third-quarter operating earnings of CAD 0.62 per share compared with CAD 0.60 in the same year-ago period.

We are maintaining our CAD 37 per share fair value estimate for Hydro One after the company reported second-quarter operating earnings of CAD 0.49 per share compared with CAD 0.44 in the same year-ago period. We continue to believe the company has no economic moat.

In 2015, the province of Ontario began the privatization of Hydro One through a series of initial public offerings. Even though the province is a minority shareholder, it holds an outsize influence on the future of the company. The political atmosphere has stabilized for Hydro One, reducing the risk of politicians' future interference.

We are maintaining our CAD 35 per share fair value estimate for Hydro One after the company reported first-quarter operating earnings of CAD 0.49 per share compared with CAD 0.47 in the same year-ago period. Our no economic moat rating remains unchanged.

In 2015, the province of Ontario began the privatization of Hydro One through a series of initial public offerings. Even though the province is a minority shareholder, it holds an outsize influence on the future of the company. The political atmosphere has stabilized for Hydro One, reducing the risk of politicians' future interference.

We are maintaining our CAD 35 per share fair value estimate for Hydro One after the company reported full-year operating earnings of CAD 1.81 per share compared with CAD 1.75 in the same year-ago period. Results were in line with our CAD 1.79 per share estimate. Our no economic moat rating remains unchanged.