National Bank Financial Weighs in on Fortis FY2028 Earnings

Fortis Inc. (TSE:FTS) – National Bank Financial issued their FY2028 earnings per share (EPS) estimates for Fortis in a research note issued to investors on Monday, January 6th. National Bank Financial analyst P. Kenny forecasts that the company will post earnings of $4.00 per share for the year. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

FTS has been the topic of a number of other reports. CIBC increased their target price on Fortis from C$63.00 to C$64.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on shares of Fortis from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Thursday, October 3rd. Bank of America set a C$60.00 price objective on Fortis and gave the stock an “underperform” rating in a research report on Friday, September 20th. Finally, Raymond James downgraded Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Fortis currently has an average rating of “Hold” and a consensus target price of C$60.89.

Fortis Stock Up 0.5 %

Fortis stock opened at C$60.36 on Wednesday. The company has a market capitalization of C$29.89 billion, a PE ratio of 18.92, a PEG ratio of 3.01 and a beta of 0.23. The firm’s fifty day moving average is C$61.09 and its 200 day moving average is C$59.17. The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 128.59. Fortis has a 12-month low of C$51.02 and a 12-month high of C$63.75.

Fortis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st were paid a $0.83 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is a positive change from Fortis’s previous quarterly dividend of $0.59. This represents a $3.32 annualized dividend and a dividend yield of 5.50%. Fortis’s payout ratio is presently 77.12%.

Insider Activity

In other news, Senior Officer Jocelyn Perry sold 11,809 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total value of C$746,178.83. Also, Director Gary Joseph Smith sold 21,716 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of C$61.45, for a total transaction of C$1,334,543.75. Insiders own 0.04% of the company’s stock.

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.