National Bank Financial Estimates Fortis FY2025 Earnings

Fortis Inc. (NYSE:FTSFree Report) – Investment analysts at National Bank Financial reduced their FY2025 earnings per share (EPS) estimates for Fortis in a note issued to investors on Monday, February 17th. National Bank Financial analyst P. Kenny now forecasts that the utilities provider will earn $2.33 per share for the year, down from their previous forecast of $2.35. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. National Bank Financial also issued estimates for Fortis’ FY2026 earnings at $2.44 EPS.

Other analysts have also recently issued reports about the stock. Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group started coverage on shares of Fortis in a research note on Thursday, February 13th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, Fortis currently has a consensus rating of “Hold”.

Read Our Latest Report on FTS

Fortis Stock Down 2.8 %

Shares of NYSE FTS opened at $43.62 on Wednesday. The business’s fifty day moving average price is $42.34 and its 200-day moving average price is $43.56. Fortis has a one year low of $36.86 and a one year high of $46.06. The stock has a market capitalization of $21.78 billion, a PE ratio of 18.48, a P/E/G ratio of 4.05 and a beta of 0.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.74 and a quick ratio of 0.63.

Fortis (NYSE:FTSGet Free Report) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Fortis had a net margin of 14.12% and a return on equity of 7.19%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the business posted $0.72 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in Fortis by 724.3% in the 4th quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $26,000 after buying an additional 507 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Fortis during the fourth quarter valued at about $38,000. Versant Capital Management Inc lifted its stake in Fortis by 34.1% during the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 256 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Fortis in the 3rd quarter worth about $44,000. Finally, Cromwell Holdings LLC increased its position in shares of Fortis by 52.2% during the 3rd quarter. Cromwell Holdings LLC now owns 1,837 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 630 shares during the last quarter. 57.77% of the stock is currently owned by institutional investors.

Fortis Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be issued a dividend of $0.4324 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, May 16th. Fortis’s payout ratio is 80.08%.

Fortis Company Profile

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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.

Further Reading

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