Raymond James Financial Forecasts Lower Earnings for Fortis

Fortis (NYSE:FTS) – Equities research analysts at Raymond James Financial cut their Q4 2025 EPS estimates for Fortis in a note issued to investors on Tuesday, November 4th. Raymond James Financial analyst T. Genzebu now anticipates that the utilities provider will post earnings per share of $0.63 for the quarter, down from their previous estimate of $0.65. Raymond James Financial currently has a “Outperform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Raymond James Financial also issued estimates for Fortis’ Q1 2026 earnings at $0.72 EPS, Q2 2026 earnings at $0.48 EPS, Q3 2026 earnings at $0.63 EPS, Q4 2026 earnings at $0.69 EPS and FY2026 earnings at $2.53 EPS.

Fortis (NYSE:FTS) last released its earnings results on Tuesday, November 4th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Fortis had a return on equity of 7.24% and a net margin of 14.48%.

Several other brokerages have also weighed in on FTS. Zacks Research lowered shares of Fortis from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. CIBC reaffirmed an “outperform” rating on shares of Fortis in a research report on Tuesday, October 21st. Scotiabank reiterated a “sector perform” rating on shares of Fortis in a report on Monday, October 6th. National Bankshares restated a “sector perform” rating on shares of Fortis in a research note on Wednesday. Finally, Cibc World Mkts upgraded shares of Fortis from a “hold” rating to a “strong-buy” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Fortis presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Fortis Trading Up 0.1%

NYSE FTS opened at $50.54 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.47 and a debt-to-equity ratio of 1.30. Fortis has a 1-year low of $40.32 and a 1-year high of $52.47. The firm’s fifty day simple moving average is $50.15 and its 200-day simple moving average is $49.03. The company has a market capitalization of $25.54 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 3.94 and a beta of 0.49.

Fortis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.64 dividend. This is a positive change from Fortis’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.56 annualized dividend and a yield of 5.1%. Fortis’s payout ratio is currently 73.75%.

Institutional Trading of Fortis

Several institutional investors have recently modified their holdings of FTS. Cullen Frost Bankers Inc. acquired a new position in shares of Fortis in the first quarter valued at $28,000. Trust Co. of Toledo NA OH bought a new stake in Fortis in the 2nd quarter valued at $28,000. Smartleaf Asset Management LLC raised its stake in shares of Fortis by 2,119.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,043 shares of the utilities provider’s stock valued at $49,000 after buying an additional 996 shares in the last quarter. State of Wyoming bought a new position in shares of Fortis during the 2nd quarter worth about $56,000. Finally, Allworth Financial LP boosted its position in shares of Fortis by 157.3% during the 2nd quarter. Allworth Financial LP now owns 1,253 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 766 shares in the last quarter. Institutional investors and hedge funds own 57.77% 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.