National Bank Financial Estimates Fortis FY2028 Earnings

Fortis Inc. (NYSE:FTS) – National Bank Financial issued their FY2028 earnings per share estimates for Fortis in a report released on Monday, January 6th. National Bank Financial analyst P. Kenny anticipates that the utilities provider will post earnings per share of $2.79 for the year. The consensus estimate for Fortis’ current full-year earnings is $2.32 per share.

Fortis (NYSE:FTS) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.26. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.01 billion. Fortis had a net margin of 14.06% and a return on equity of 7.01%. During the same quarter last year, the firm posted $0.63 earnings per share.

Several other research firms have also recently commented on FTS. Bank of America began coverage on Fortis in a research note on Friday, September 20th. They issued an “underperform” rating on the stock. Raymond James downgraded Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th.

Fortis Stock Performance

Shares of FTS stock opened at $41.95 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.74 and a quick ratio of 0.63. The company’s fifty day moving average price is $43.23 and its two-hundred day moving average price is $43.00. The firm has a market capitalization of $20.87 billion, a P/E ratio of 17.63, a P/E/G ratio of 3.87 and a beta of 0.50. Fortis has a 12 month low of $36.86 and a 12 month high of $46.06.

Fortis Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th will be issued a $0.4382 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Tuesday, February 18th. Fortis’s dividend payout ratio is presently 76.05%.

Institutional Trading of Fortis

Institutional investors and hedge funds have recently modified their holdings of the business. 1832 Asset Management L.P. boosted its holdings in shares of Fortis by 1.1% during the second quarter. 1832 Asset Management L.P. now owns 9,199,047 shares of the utilities provider’s stock valued at $357,291,000 after acquiring an additional 95,813 shares during the period. Toronto Dominion Bank grew its position in Fortis by 26.9% in the 2nd quarter. Toronto Dominion Bank now owns 9,071,484 shares of the utilities provider’s stock valued at $352,336,000 after buying an additional 1,920,728 shares in the last quarter. National Bank of Canada FI increased its stake in Fortis by 21.8% during the 3rd quarter. National Bank of Canada FI now owns 5,190,336 shares of the utilities provider’s stock valued at $235,839,000 after buying an additional 930,331 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Fortis by 15.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,747,036 shares of the utilities provider’s stock worth $170,230,000 after purchasing an additional 507,068 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of Fortis by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,372,362 shares of the utilities provider’s stock worth $131,040,000 after buying an additional 20,085 shares in the last quarter. 57.77% of the stock is owned by institutional investors and hedge funds.

Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.