FY2025 Earnings Estimate for Fortis Issued By Desjardins

Fortis Inc. (TSE:FTS) – Research analysts at Desjardins issued their FY2025 earnings per share (EPS) estimates for Fortis in a report issued on Monday, May 5th. Desjardins analyst B. Stadler forecasts that the company will post earnings of $3.39 per share for the year. Desjardins has a “Hold” rating and a $70.00 price objective on the stock. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share. Desjardins also issued estimates for Fortis’ FY2026 earnings at $3.62 EPS, FY2027 earnings at $3.80 EPS, FY2028 earnings at $4.01 EPS and FY2029 earnings at $4.23 EPS.

A number of other research analysts have also recently weighed in on FTS. Royal Bank of Canada lifted their price objective on shares of Fortis from C$65.00 to C$69.00 in a report on Tuesday, February 18th. Raymond James reduced their price target on Fortis from C$69.00 to C$62.50 and set a “market perform” rating for the company in a report on Thursday, April 17th. CIBC increased their price target on Fortis from C$68.00 to C$69.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Jefferies Financial Group boosted their price objective on Fortis from C$67.00 to C$70.00 in a research report on Monday, April 14th. Finally, UBS Group increased their target price on Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$63.71.

Fortis Stock Performance

FTS opened at C$67.53 on Wednesday. The firm has a fifty day moving average price of C$65.24 and a 200 day moving average price of C$62.67. Fortis has a 1 year low of C$52.19 and a 1 year high of C$68.65. The stock has a market cap of C$33.41 billion, a P/E ratio of 20.04, a P/E/G ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36.

Fortis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Sunday, June 1st will be given a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, May 16th. Fortis’s dividend payout ratio (DPR) is 73.02%.

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.