Fortis FY2025 EPS Reduced by National Bank Financial

Fortis Inc. (TSE:FTS) – Investment analysts at National Bank Financial lowered their FY2025 earnings estimates for Fortis in a research note issued on Monday, February 17th. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $3.33 for the year, down from their prior estimate of $3.37. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Several other equities research analysts have also weighed in on the stock. Jefferies Financial Group set a C$67.00 price objective on shares of Fortis and gave the stock a “hold” rating in a research note on Thursday, February 13th. Raymond James raised their target price on Fortis from C$61.00 to C$62.50 in a research note on Tuesday. CIBC upped their price target on Fortis from C$64.00 to C$65.00 in a report on Tuesday. Scotiabank boosted their target price on shares of Fortis from C$63.00 to C$66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lifted their target price on shares of Fortis from C$65.00 to C$69.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, Fortis currently has a consensus rating of “Hold” and an average price target of C$62.45.

Fortis Price Performance

Shares of TSE FTS opened at C$61.89 on Wednesday. Fortis has a 1-year low of C$51.02 and a 1-year high of C$64.39. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The company has a market capitalization of C$30.62 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 3.01 and a beta of 0.23. The business has a 50-day moving average of C$60.75 and a 200-day moving average of C$60.62.

Fortis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be given a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 3.97%. Fortis’s dividend payout ratio (DPR) is presently 73.02%.

Insider Transactions at Fortis

In related news, Senior Officer Jocelyn Perry sold 11,809 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total value of C$746,178.83. Corporate insiders own 0.04% of the company’s stock.

About Fortis

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.