National Bank Financial Forecasts Fortis Q4 Earnings

Fortis Inc. (TSE:FTS) – Investment analysts at National Bank Financial issued their Q4 2024 earnings per share (EPS) estimates for shares of Fortis in a research note issued on Tuesday, January 28th. National Bank Financial analyst P. Kenny forecasts that the company will post earnings per share of $0.82 for the quarter. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

FTS has been the subject of several other research reports. CIBC lifted their price target on Fortis from C$63.00 to C$64.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Raymond James lowered Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$60.89.

Fortis Stock Performance

Shares of TSE:FTS opened at C$61.90 on Thursday. The firm has a fifty day simple moving average of C$60.82 and a two-hundred day simple moving average of C$59.97. The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 128.59. The stock has a market capitalization of C$30.65 billion, a P/E ratio of 19.40, a PEG ratio of 3.01 and a beta of 0.23. Fortis has a 52 week low of C$51.02 and a 52 week high of C$63.75.

Fortis (TSE:FTS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported C$0.85 earnings per share for the quarter, topping the consensus estimate of C$0.81 by C$0.04. Fortis had a net margin of 14.35% and a return on equity of 7.44%. During the same period in the previous year, the firm earned $0.84 EPS.

Insider Activity at Fortis

In other news, Senior Officer Keri Linda Glitch acquired 450 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of C$61.41 per share, with a total value of C$27,634.59. Following the completion of the purchase, the insider now directly owns 450 shares in the company, valued at C$27,634.59. This trade represents a ? increase in their ownership of the stock. Also, Senior Officer Jocelyn Perry sold 11,809 shares of the firm’s stock in a transaction 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. 0.04% of the stock is owned by company insiders.

Fortis Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, March 1st will be paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Tuesday, February 18th. Fortis’s dividend payout ratio is currently 77.12%.

About Fortis

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.